EYECITY.COM, INC. OBTAINS TEMPORARY INJUNCTION IN SHAREHOLDER DISPUTE
EyeCity.com, Inc. (OTC PINK: ICTY) has secured a Temporary Injunction from the Florida Circuit Court, preventing the transfer of 1.6 billion shares of its Common Stock controlled by several defendants, including Salvatore Russo and POP Holdings LTD.
Sentiment and the balance of points
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Rhea-AI Summary
EyeCity.com, Inc. (OTC PINK: ICTY) has secured a Temporary Injunction from the Florida Circuit Court, preventing the transfer of 1.6 billion shares of its Common Stock controlled by several defendants, including Salvatore Russo and POP Holdings LTD. This legal action asserts that these shares were fraudulently obtained. The injunction remains in effect until the court resolves the company's claims regarding these shares.
Positive
- Temporary Injunction granted, safeguarding company shares from potential unauthorized transactions.
- Legal action indicates proactive measures to protect shareholder value.
Negative
- Ongoing lawsuit may create uncertainty for investors.
- Potential negative perception of share dilution risk pending resolution.
Details
News Market Reaction – ICTY
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LAND O’ LAKES, FL, Oct. 14, 2021 (GLOBE NEWSWIRE) -- EyeCity.com, Inc. (OTC PINK: ICTY) announced today that it had been granted a Temporary Injunction by the Circuit Court of the State of Florida, 6th Judicial Circuit, in its pending lawsuit to invalidate 1,600,000,000 Shares of its Common Stock held or controlled by Defendants Salvatore Russo, POP Holdings LTD, HE Capital SA, and Pearl Street Advisors, LLC. The Temporary Injunction prevents the named Defendants from transferring or selling any of the Company’s Common Stock, pending a final determination of the Company’s claims that all of the Shares issued to these Defendants were fraudulently obtained.
Additional information concerning this case and the Court Documents are available online from the Circuit Court of Pasco County, Florida, under Case No. 2021CA001726CAAXES
Follow ICTY on Twitter at https://twitter.com/CannaDevCo
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ICTY Contact: Bradley Wilson, President
contact@cannadevco.com
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