An important announcement will soon be made in the latest BBIG lawsuit case, which is happening today, Thursday July 20th.
Last week, BBIG investors involved in the lawsuit requested appointing a Receiver to the case to further strengthen their motion.
A Receiver is the agent of the court and is appointed by the judge (usually at the request of one of the parties.)
The Receiver’s responsibility is to ensure that property is protected or the business operates without interference or influence from the lawsuit parties.
“A receiver may be appointed by the court in which an action is
pending, or by the judge thereof… In the cases when a corporation [is]… in imminent danger of insolvency.
“The appointment of a receiver is an action within the trial court’s sound discretion and will not be disturbed absent a clear abuse,” reads the latest BBIG lawsuit filing.
Today’s hearing is an important one for the BBIG family.
Plaintiff Shad Vick says he hopes their request for a receiver gets approved.
“If not we go into discovery. Worst case scenario she dismisses the case.”
“This isn’t just a big day for me, but the entire community. Praying for success today! The fight will wage on no matter what,” said Christopher Muntz, another plaintiff in the BBIG lawsuit.
Investors allege that the Board of Directors have defrauded shareholders as shares have fallen more than -87% in the past year with absolutely no progress or accountability to broken promises in the business.
CONFIRMED: The request for a Receiver has been denied.
Where You Can Support the BBIG Family
The BBIG Family was able to raise more than $42K to fund the litigation process earlier this year.
They have now raised $53,000 as of July 20th.
Vick says the process has taken a toll on the funds with at least $25,000 having been used as a retainer fee for Hutchison & Steffen Attorneys in the state of Nevada earlier this year.
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