Default On Debt by Design
SALT LAKE CITY, UT / ACCESSWIRE / April 4, 2016 / Labor SMART, Inc. (OTCMKTS: LTNC) was sued today for defaulting on contractual debt. The lawsuit alleges that Labor Smart, and its CEO, C. Ryan Schadel, committed breach of contract, and fraud. The suit also seeks a preliminary injunction to prevent Labor SMART from selling its branches and completing its stock buyback.
In March, Prometheus Capital Solutions, LLC, a finance company in Utah, purchased debt owed by Labor Smart. According to court documents, Prometheus demanded payment of the debt and Labor Smart refused. "Labor Smart knows they owe this debt; they just don't want to pay it. They have no excuse. It's deceptive, fraudulent, maybe even criminal," said Steven Maese, Prometheus's Manager.
The case was filed in Utah District Court (Case # 160902181). A copy of the lawsuit can be found at http://www.procapsolutions.com/ltnc/lawsuit.pdf. The lawsuit asks for actual damages, liquidated damages of $4,000 per day, as well as costs and attorney's fees.
For more information and available photos:
S. Steven Maese
Manager
Prometheus Capital Solutions, LLC
801-335-9838 office
801-244-5868 cell
[email protected]
www.procapsolutions.com
SOURCE: Prometheus Capital Solutions, LLC