An unauthorized collection of the records of Alternate Energy Holdings, inc., its principals and subsidiaries, and their antics, trials, and tribulations

Former AEHI CEO Don Gillispie

Former AEHI CEO Don Gillispie
OK, everyone, I've got to step out for just a minute. I'll be right back, I promise!

Wednesday, July 13, 2011

SEC Files Motion to Amend Original Complaint: "AEHI's Securities Lawyers and Investor Relations Firm Resigned Over Their Concerns"

The SEC on July 7th filed a Motion for Leave to Amend Complaint, outlining the SEC's addition of new claims and "further factual allegations describing the time, place, and manner of the defendants' fraud," in their case against Alternate Energy Holdings, Inc., CEO Don Gillispie, and Fomer Key Senior Executive Vice President (and now former President of Energy Neutral) Jennifer Ransom. And her dog Bosco's LLC, too.

Appendix A to the Motion is the Amended Complaint, and Appendix B (immediately following A in the same .pdf in the link) is the original Complaint with the proposed changes shown as strikethrough or underline for deleted or added material.

Lots of new shit has come to light in the amended complaint.  A couple of highlights:

One of the more interesting additions is paragraph 82, on page 20 of the Amended Complaint: (emphasis added)
AEHI Continues to Issue New Press Relaeases
82.  On or around September 22, 2010, after raising the issue with Gillispie and company management, AEHI's securities lawyers and investor relations firm resigned over their concerns about the volume and and nature of AEHI's press releases.

83.  Following these resignations, AEHI continued to issue a new press release almost every business day, including on October 4, 11, 14, 15, 18, 19, 25, 27, 28; November 1, 2, 8, 9, 11, 15, 17, 22, 29; and December 1, 2, 3, 6, 10, and 13, 2010.
On page 12, the SEC adds a new laundry list of Private Placement Memoranda that, according to the SEC, "falsely state" "that they have funding."

If the court grants the Motion for Leave to Amend Complaint, then AEHI will have 14 days to respond to the new allegations in the amended complaint.

As more new shit comes to light, the Dude will post it here.

1 comment:

  1. Almost midnight but the new shit had to be read. Thanks Dude!!