Brian Hudnall and JBH Consulting Group LLC— Materially False and Misleading Statements
Brian S. Hudnall and JBH Consulting Group LLC Allegedly Made Materially False and Misleading Statements to Potential Investors with the Hopes of Selling Securities in Multiple Oil and Gas Offerings which Purportedly Raised More than $16 Million
Brian Hudnall and JBH Consulting Group LLC, from September 2008 through at least 2014, allegedly misled potential investors with the intention of selling securities in multiple oil and gas offerings, according to an SEC Complaint currently under review by attorneys Joe Peiffer and James Booker.
None of the aforementioned securities offerings offered by Brian Hudnall and JBH Consulting Group LLC, or so-called “joint ventures”, were registered with the SEC, according to the aforementioned SEC Complaint.
JBH Consulting Group LLC, a Liberty, Missouri company and JBH’s President and CEO, allegedly raised more than $16 million from investors for the aforementioned oil and gas well projects in Kansas and Texas, and is purportedly being sued for violating federal securities laws, the SEC Complaint reports.
JBH and Hudnall allegedly made solicitations in the investments from scores of people across America, and Hudnall allegedly personally took in more than $3 million, the Complaint notes.
What is more, Hudnall and none of the other persons selling the securities were allegedly licensed or associated with registered brokers, the Complaint reports.
The Peiffer Wolf securities lawyers are currently investigating Brian Hudnall and JBH Consulting Group LLC’s alleged materially false and misleading statements.
JBH Consulting Group LLC Allegedly Masked “Substantial Markups” which Were Charged to Investors and also Failed to Disclose Discounts and other “Favorable Side Deals” Made with Investors
JBH Consulting Group LLC allegedly masked “substantial markups” which were charged to investors and also allegedly failed to disclose discounts and other “avorable side deals” made with investors, according to the aforementioned SEC Complaint presently being examined by attorneys Joe Peiffer and James Booker.
JBH and Hudnall, the Complaint reports, allegedly made numerous materially false and misleading statements which included:
• falsely representing that title to “joint venture” assets would be held by the “joint ventures”;
• misrepresenting the costs of the offerings and how Defendants would use investor funds;
• hiding substantial (30-50%) markups Defendants charged to investors;
• understating the amount of working interest in the wells Defendants retained for themselves; and
• failing to disclose discounts and other favorable side deals made with certain investors, some of whom were Defendants friends and relatives.
As a result, the SEC is purportedly seeking permanent injunctions, disgorgement plus pre- and post-judgment interest, and civil penalties for Defendants’ violations of the Securities Act and the Securities Exchange Act, the Complaint reports.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of misleading statements and re currently investigating Brian Hudnall and JBH Consulting Group LLC’s allegedly false and materially misleading statements. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Brian Hudnall and JBH Consulting Group LLC’s allegedly false and materially misleading statements may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434 or via e-mail at email@example.com or firstname.lastname@example.org.