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Public and Private Batlle for the remains of IMA

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In a brief filed with the U.S District Court located in Atlanta, download court brief, two investors in IMA, David Laird and Scott Baker, have moved to intervene in the case. They are part of a group of 200 investors who filed a lawsuit against Kirk S Wright and other on February 23rd, 2006. Another similar action was filed by an investor named "Atwater" on February 13th, 2006. In the Atwater action, a temporary restraining order against Kirk S Wright and other defendants, not being pursued by the SEC, was obtained on February 17th, 2006. The investors obtained an order appointing William Perkins as the receiver.

On February 27th, the SEC brought their own action against Kirk S Wright but did not include all the defendants in the two civil cases. William Perkins was again appointed the receiver for the Federal case.

Why are Laird and Baker complaining? Surely the SEC and the Receiver are up to recovering the missing funds?

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