Does Bombs Away have any civil actions pending against them alleging fraud?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 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:
- A. No such party has an administrative, criminal or civil action pending against that person alleging: a felony, a violation of a franchise, antitrust, or securities law, fraud, embezzlement, fraudulent conversion, misappropriation of property, unfair or deceptive practices, or comparable civil or misdemeanor allegations.
- B. No such party has pending actions, other than routine litigation incidental to the business, which are significant in the context of the number of franchisees and the size, nature or financial condition of the franchise system or its business operations.
- 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.
- D. No such party is subject to a currently effective injunctive or restrictive order or decree relating to the franchise, or under a Federal, State, or Canadian franchise, securities, antitrust, trade regulation or trade practice law, resulting from a concluded or pending
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to the 2024 Bombs Away Franchise Disclosure Document, Bombs Away states that there are no pending civil actions alleging fraud against the franchisor, its predecessors, individuals identified in Item 2, or affiliates offering franchises under the Bombs Away trademark. This extends to administrative or criminal actions alleging felonies, violations of franchise, antitrust, or securities laws, embezzlement, fraudulent conversion, misappropriation of property, unfair or deceptive practices, or comparable allegations.
Bombs Away also states that there are no pending actions, aside from routine litigation incidental to the business, that are significant in the context of the number of franchisees, the size, nature, or financial condition of the franchise system or its business operations. Furthermore, Bombs Away states that none of the covered parties have been convicted of a felony or pleaded nolo contendere to a felony charge within the past 10 years, nor have they been subject to civil actions alleging violations of franchise, antifraud, or securities laws, fraud, embezzlement, fraudulent conversion, misappropriation of property, or unfair or deceptive practices.
Finally, Bombs Away confirms that none of the specified parties are subject to any currently effective injunctive or restrictive orders or decrees relating to the franchise, or under federal, state, or Canadian franchise, securities, antitrust, trade regulation, or trade practice law, resulting from a concluded or pending action brought by a public agency. They are also not subject to any orders from national securities associations or exchanges, or injunctive or restrictive orders relating to other business activities resulting from actions by a public agency.