Does Apricot Lane disclose if any party has pleaded nolo contendere to a felony charge?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
Except as provided above, with regard to the franchisor, its predecessor, a person identified in Item 2, or an affiliate offering franchises under the franchisor's principal trademark:
- C. No such party has been convicted of a felony or pleaded nolo contendere to a felony charge or, within the 10 year period immediately preceding the application for registration, has been convicted of or pleaded nolo contendere to a misdemeanor charge or has been the subject of a civil action alleging: violation of a franchise, antifraud, or securities law; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices or comparable allegations.
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, Apricot Lane states that no specified party has pleaded nolo contendere to a felony charge. This disclosure extends to Apricot Lane itself, its predecessors, individuals identified in Item 2 of the FDD, and any affiliates offering franchises under Apricot Lane's principal trademark.
Specifically, Apricot Lane confirms that none of these parties has been convicted of a felony or pleaded nolo contendere to a felony charge. Furthermore, within the 10-year period preceding the application for registration, none of them has been convicted of or pleaded nolo contendere to a misdemeanor charge or been involved in a civil action alleging violations of franchise, antifraud, or securities laws; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices.
This statement provides potential franchisees with assurance regarding the legal and ethical background of Apricot Lane and its associated parties. It indicates that the company and its key figures have not been involved in significant legal issues that could impact the franchise system. However, it is important for prospective franchisees to conduct their own due diligence and seek legal counsel to fully understand the implications of this disclosure and assess any potential risks.