QUESTION

We hired a group for $25,000 for a contract arrangment to provide a NV corp, S1 filing and become public Co. What kind of suit do we file and where?

Asked on Jul 11th, 2013 on Breach of Contract - Nevada
More details to this question:
The contract specified 1) NV Corp filing 2) file S1 with the SEC, become listed as a Publicly traded Company. The Group we hired told us after we completed all 3 they would provide a 10 million dollar investor for the needed capital. The NV corp was filed with 30 million shares which 4 of us invested in ( each getting 7.5 million shares for a $6250 investment) They told us once we became public our investment would be worth anywhere from .04 to .25 cents per share and the $10 million in capital would be realized. After the Company was organized as a NV corp we started to question the documentation the hired group was providing us. They then refused to go to step 2 keeping our $25,000. This all happened in a 14 day period. The group stated to us that the expenses they incurred were beyond the $25,000 we invested. Their own pre-investment paper work contradicts that claim. They listed the expenses and specified the performances in the pre-investment documentation.
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1 ANSWER

R. Christopher Reade
You would file a breach of contract suit either (a) where the contract stipulates that venue was to be set; (b) where the contract was to be performed or (c) where Defendant company is domiciled.  You might have a fraud claim depending on the specific facts in your case.
Answered on Jul 12th, 2013 at 7:09 PM

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