Opinions about Scuderi Group's misuse of funds

[alittlebird]

Known risky investment? Sure. Yes. Absolutely. Breaking laws and violating rights? Not okay. There is a line and it’s written in detail right on the SEC website. Cross the line and pay the price. As I've stated before, my intent was/is to gather other’s thoughts and opinions and have a discussion about it but unfortunately that seems impossible in this forum. Also some people are unaware of the Scuderi’s s latest misconduct, so I wanted to make sure they know. Most people have abandoned it, died or moved on. Just a couple of disgruntled investors left, kicking around an old tin can in a fiery wasteland of lies and greed, distracted by the bright shiny sign over top that says “COMING SOON”.

[hard10working]

Carguy I didn’t think of that angle for birdbrain…that actually fits with the name…old axe grinding employee. Regardless, I think it’s clear that there is an agenda here ergo my over the top mission of distraction. Too bad if he had valid info I can’t trust it because of the manner he came in here.

[hard10working]

Sept 4, 2024 14:08:34 GMT alittlebird said:

Known risky investment? Sure. Yes. Absolutely. Breaking laws and violating rights? Not okay. There is a line and it’s written in detail right on the SEC website. Cross the line and pay the price. As I've stated before, my intent was/is to gather other’s thoughts and opinions and have a discussion about it but unfortunately that seems impossible in this forum. Also some people are unaware of the Scuderi’s s latest misconduct, so I wanted to make sure they know. Most people have abandoned it, died or moved on. Just a couple of disgruntled investors left, kicking around an old tin can in a fiery wasteland of lies and greed, distracted by the bright shiny sign over top that says “COMING SOON”.

batshit birdbrain just keeps trying to lay eggs here. You blew your credibility trying to be real cute. Also, just to prove you are just a rando jackass who does not have a clue…you are accusing them of violating laws and rights. A company of this nature has no fiduciary responsibility by law to provide info or financials to anyone. Investors knew that going in. ETHICALLY they should provide the people that backed them with information but they are not required to do so LEGALLY. Just please shut the fuck up already.

[christiiec2024]

Are you referring to the NY court case?

[mhamil]

Carguy,

"We must accept finite disappointment, but never lose infinite hope" said by someone much smarter than me about things much more important than the Scuderi's. I wish everyone here some luck in the coming months.

[carguy]

You are good people, Mhamil.

[carguy]

There's some good news finally. The lawsuits filed by Quantum against ESG1 and the family have been settled and dismissed with prejudice, so they're done. This is amazing news because we weren't talking about chump change...it was a decent amount of money. I'll add, having watched things closely, that SG's Attorneys were strategically superior at every turn from my point of view. But I won't belabor this, just really psyched to see the suits settled amicably without trial.

Another good piece of news is that on September 10th there was a meeting between Nick and some investors at a nice little Italian Restaurant in West Springfield right down the street from Scuderi HQ. What I'm saying next is what allegedly took place and not my words, but from an attendee: I'm told there was a presentation detailing Morgan Stanley's current involvement, and also interest possibly from Chase, as there is allegedly contact with a representative of Jamie Dimon himself. Allegedly, the result of the meeting was some pretty high excitement from attendees and the feeling that not only is this happening, but it's closer than ever. So, without risking burning any of my contacts, I'll leave it at that.

What does this mean for the broader group of us, especially those of us who invested in Series D Units through clubs which may or may not have kept the best records? I don't know, cuz we're not told shit. My advice right now, would be to keep your ears open, make sure your fund managers have your addresses up to date, and hope for some sort of investor update.

Settlement.pdf (22.03 KB)

[vroom]

So they used more of our money to settle another suit and pay legal fees and that is a good thing?

[hard10working]

Vroom, I did not dig into this very see but on its face it states this was a dismissal and not even a settlement. And no matter what it is good to have no lawsuit regardless of its merit or not if they have the momentum to an investor return that they seem to have. Would you rather complain they successfully defeated a lawsuit brought against them for the opportunity to move forward?? This is the closest we have ever been to fruition and from my perspective that’s a phenomenal thing. Take what appears to be a better track and be a little more positive.

[carguy]

Sept 21, 2024 13:03:54 GMT hard10working said:

Vroom, I did not dig into this very see but on its face it states this was a dismissal and not even a settlement. And no matter what it is good to have no lawsuit regardless of its merit or not if they have the momentum to an investor return that they seem to have. Would you rather complain they successfully defeated a lawsuit brought against them for the opportunity to move forward?? This is the closest we have ever been to fruition and from my perspective that’s a phenomenal thing. Take what appears to be a better track and be a little more positive.

Not to nit-pick HW, but if you go to the case docket, you’ll see that the docket notes on 9/12 indicate the case was settled. Same with the other case, which was also dismissed with prejudice. If you look at the case disposition at the end of each docket it says: Disposed by Agreement / Settled.

The court procedure only allows it to note three reasons for the dismissal document. If you look up the rule under which this was dismissed by searching the rule referenced in the document: Rule 41(a)(1)(ii). In this case it was:

(a) Voluntary Dismissal.

(1) By the Plaintiff.

(A) Without a Court Order. Subject to Rules 23(e), 23.1(c), 23.2, and 66 and any applicable federal statute, the plaintiff may dismiss an action without a court order by filing:

(ii) a stipulation of dismissal signed by all parties who have appeared.

[carguy]

Sept 20, 2024 19:45:25 GMT vroom said:

So they used more of our money to settle another suit and pay legal fees and that is a good thing?

I guess in a way you’re right, but in this case, it was over sale and rental of the land. I’d hope that the settlement resulted to terms SG felt was more advantageous in the long run, justifying the short term expense of the suit. But now I’m just talking out of my ass, lol.

[ferrari57]

Sept 19, 2024 16:21:19 GMT carguy said:

There's some good news finally. The lawsuits filed by Quantum against ESG1 and the family have been settled and dismissed with prejudice, so they're done. This is amazing news because we weren't talking about chump change...it was a decent amount of money. I'll add, having watched things closely, that SG's Attorneys were strategically superior at every turn from my point of view. But I won't belabor this, just really psyched to see the suits settled amicably without trial.

Another good piece of news is that on September 10th there was a meeting between Nick and some investors at a nice little Italian Restaurant in West Springfield right down the street from Scuderi HQ. What I'm saying next is what allegedly took place and not my words, but from an attendee: I'm told there was a presentation detailing Morgan Stanley's current involvement, and also interest possibly from Chase, as there is allegedly contact with a representative of Jamie Dimon himself. Allegedly, the result of the meeting was some pretty high excitement from attendees and the feeling that not only is this happening, but it's closer than ever. So, without risking burning any of my contacts, I'll leave it at that.

What does this mean for the broader group of us, especially those of us who invested in Series D Units through clubs which may or may not have kept the best records? I don't know, cuz we're not told shit. My advice right now, would be to keep your ears open, make sure your fund managers have your addresses up to date, and hope for some sort of investor update.

View Attachment

Think you meant JP Morgan

[carguy]

Ugh. Sorry. Chase Manhattan merged with JPMorgan & Co, to form today's JPMorgan Chase like 25 years ago. Most refer to it as Chase, of which Jamie Dimon, is President and CEO.

Think of it like saying Celtics, 49’s, or Yankees instead of the whole thing.

Either way, thanks for confirming you heard the words JP Morgan from whoever you spoke to. All good news still.

[vroom]

Assuming that JPM or MS would touch this company given its history.

[mhamil]

That Supreme Court ruling on the EPA must have the Scuderi's salivating. Green light for those who are holding the purse strings (if they are real).