Lawsuit reveals alleged penny stock promotion network of stock promoter Brent Pierce

Note: This article will be updated as I read the documents I have uploaded. I wanted to make them freely available to the public as quickly as possible. For background in the meantime, I suggest reading David Baines’ articles (Part 1 & Part 2) on this in the Vancouver Sun.

Here is a brief excerpt from Baines’ article (part 1):

By this time, [David] Urquhart was long gone. In September 2008, just after the stock [of Mainland Resources] peaked, he resigned. The company said his departure was “not a result of any disagreement between the company or Mr. Urquhart pertaining to matters relating to the company’s operations, policies or practices.”

Maybe so, but there was serious disagreement over compensation. In a legal action filed in U.S. District Court in Nevada this week, Urquhart claims the company owes him hundreds of thousands of dollars in cash, shares and options.

The case number is A09-591695-B and I downloaded Urquhart’s complete filing from June 23rd 2010. Below are links to PDFs of the full complaint.

Pages 1-50
Pages 51-100
Pages 101-150
Pages 151-178
Exhibit A
Exhibit B

Disclosure: No positions in any stocks mentioned and no connections to anyone mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please complete the formula below to prove that you are human * Time limit is exhausted. Please reload CAPTCHA.

This site uses Akismet to reduce spam. Learn how your comment data is processed.