factual

Does the Bang Cookies FDD disclose any legal proceedings involving misappropriation of property by Bang Cookies?

Bang_Cookies Franchise · 2024 FDD

Answer from 2024 FDD Document

Amendments to the Bang Cookies Franchise Disclosure Document

    1. Item 3 "Litigation," is supplemented by the addition of the following:
    • A. Neither the Franchisor nor any person identified in Items 1 or 2 above has any administrative, criminal or material civil action (or a significant number of civil actions irrespective of materiality) pending against him alleging a violation of any franchise law, fraud, embezzlement, fraudulent conversion, restraint of trade, unfair or deceptive practices, business opportunity law, securities law, misappropriation of property or comparable allegations.
    • B. Neither the Franchisor nor any other person identified in Items 1 or 2 above has during the 10 year period immediately preceding the date of this Disclosure Document, been convicted of a felony or pleaded nolo contendere to a felony charge or been held liable in any civil action by final judgment, or been the subject of any material complaint or other legal proceeding where a felony, civil action, complaint or other legal proceeding involved violation of any franchise law, fraud, embezzlement, fraudulent conversion, restraint of trade, unfair or deceptive practices, business opportunity law, securities law, misappropriation of property or comparable allegations or which was brought by a present or former purchaser-investor or which involves or involved the business opportunity relationship.
    • C. Neither the Franchisor nor any person identified in Items 1 or 2 above is subject to any currently effective injunctive or restrictive order or decree relating to the franchise, or under any federal, state or Canadian franchise, securities, business opportunity, antitrust, trade regulation or trade practice law as a result of concluded or pending action or proceeding brought by a public agency, or is a party to a proceeding currently pending in which an order is sought, relating to or affecting business opportunity activities or the seller-purchaser-investor relationship, or involving fraud, including but not limited to, a violation of any business opportunity law, franchise law, securities law or unfair or deceptive practices law, embezzlement, fraudulent conversion, misappropriation of property or restraint of trade.

Source: Item 23 — RECEIPTS (FDD pages 56–245)

What This Means (2024 FDD)

According to Bang Cookies' 2024 Franchise Disclosure Document, specifically the Connecticut FDD Amendment, neither Bang Cookies nor any individuals listed in Items 1 or 2 have any pending or prior legal issues related to misappropriation of property. This statement applies to administrative, criminal, or material civil actions, irrespective of materiality.

Specifically, the FDD states that in the past 10 years, Bang Cookies and related individuals have not been convicted of a felony, pleaded nolo contendere to a felony charge, been held liable in a civil action by final judgment, or been the subject of any material complaint or other legal proceeding involving misappropriation of property. This extends to actions brought by present or former purchaser-investors or those involving the business opportunity relationship.

Furthermore, Bang Cookies and related individuals are not currently subject to any injunctive or restrictive orders or decrees relating to the franchise, or under any federal, state, or Canadian franchise, securities, business opportunity, antitrust, trade regulation, or trade practice law as a result of concluded or pending action or proceeding brought by a public agency. They are also not party to any pending proceeding in which an order is sought relating to business opportunity activities, the seller-purchaser-investor relationship, or involving fraud, including misappropriation of property.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.