Heartland Production and Recovery, LLC – State of Michigan Complaint | Goodman & Nekvasil P.A. May Recover Investor Losses
According to the State of Michigan:
The Bureau conducted an investigation of Heartland Production and Recovery LLC’s activities under the Securities Act in Michigan. 2. The investigation developed evidence that Heartland Production and Recovery LLC offered and sold securities in Michigan. Heartland Production and Recovery LLC claimed reliance on a federal exemption from securities registration, 17 CFR 230.506(c) (“Rule 506(c)”), which preempts Page 2 of5 state securities registration requirements for the issuance of securities. Rule 506(c) securities are considered federal-covered securities and are not required to be registered under section 301(a) of the Securities act, MCL 451.230l(a). The Bureau presently has no information to dispute that Heartland Production and Recovery LLC’s reliance on the federal exemption and related federal-covered status was proper. 3. Heartland Production and Recovery LLC engaged the services of salespeople around the United States to offer and sell its securities, including in Michigan. Multiple salespeople in Michigan assisted investors to effect transactions in Heartland Production and Recovery LLC’s securities pursuant to an Engagement Letter (Exhibit 1) and Standard Operating Procedures (Exhibit 2) which outlined the salespeople’s authority to represent Heartland Production and Recovery LLC as the issuer of securities. The salespeople were authorized under the Engagement Letters and Standard Operating Procedures to discuss the merits and risks of the investment and to “stimulate interest in the Shares.” Salespeople were further encouraged to deliver sales materials with a “warm relationship” and to have an “enthusiastic discussion” with potential investors about investing with Heartland Production and Recovery LLC. The salesperson-investor relationships went beyond mere location, introduction, or referral to the investment opportunity and included promotion of the securities to investors. Some salespeople were also paid transaction-based compensation1 to facilitate sales of Heartland Production and Recovery LLC’s securities.
Investors in Heartland Production and Recovery LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Heartland Production and Recovery LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Heartland Production and Recovery LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.