Securities and Exchange Commission v. Edwards
04/27/2020
Summary of the facts of the case
Charles Edwards, who is the defendant, was thefounding father ofETS Payphones, Inc.,a companythat sold pay telephones to the public’s independent businesses and own allowance of letting them back at a set monthly fee. For this deal, the consumers will have a set annual return on their deal or investment.
The company also makes available an assured rate of return on their products. Conversely, they were incapable to fulfill this agreement due to insufficient revenue. Regardless of their convinced promotion, they could not make the maximum amount of money projected.
The company started struggling to fulfill their financial commitments to shareholders. This also meant ETS is unable to fulfill their 14% pledge to https://www.solvedcollegepapers.com/product/business-c12v-module6-assign
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