TALG is pleased to announce a Securities Fraud Victory from the Las Vegas office

IRVINE, Calif., March 7, 2023 /PRNewswire/ -- TALG is pleased to announce that the firm's Las Vegas office recently secured a $1,609,836.05 judgment from the United States District Court for the District of Nevada in a complex case involving securities fraud. In Enerkon v. John Capello et. al., Enerkon Solar International Inc. ("Enerkon") sued numerous former shareholders of the corporation relating to securities fraud just days before the Securities and Exchange Commission ("SEC") issued an order suspending the trading of securities of Enerkon.  The SEC suspended trading due to "among other things, lack of adequate and accurate information in Enerkon's quarterly and annual financial statements . . . as early as December 31, 2018, through Enerkon's quarterly financials for March 31, 2021." 

TALG's clients, former owners of Enerkon prior to 2018 and shareholders, filed counterclaims against Enerkon claiming that Enerkon took actions to specifically impede the owner's and shareholder's ability to sell its Enerkon shares in violation of federal securities laws.  TALG's clients also argued that Enerkon's lawsuit was baseless, frivolous, and unfounded based upon the specious timing of the lawsuit and Enerkon's claims.  The District of Nevada agreed and awarded over $1.6M to TALG's clients for their counterclaims and to recover the attorneys' fees and costs associated with the litigation.  TALG is pleased that years of litigation resulted in a victory for its clients.

TALG's securities fraud practice has years of experience handling complex cases throughout the nation.  Ismail Amin, the head of the firm's Securities and Financial Regulation team, obtained a Master of Laws (LLM) from Georgetown University spearheaded the litigation, and has successfully handled securities fraud claims and litigation with TALG's clients.  Marian Massey, a senior associate in TALG's Las Vegas office, also assisted in the preparation of the numerous motions that lead to the successful result.  TALG's securities attorneys bring experience to help clients increase their chances of prevailing inside and outside of the courtroom by while focusing on straightforward solutions for clients.  To learn more about the firm's practice groups, please click here.

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SOURCE TALG