Has Bombs Away been convicted of a felony?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
- The following is added at the end of Item 3:
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, with the exception of what is provided, no relevant party has been convicted of a felony or pleaded nolo contendere to a felony charge. This includes the franchisor, its predecessor, any person identified in Item 2 of the FDD, or an affiliate offering franchises under Bombs Away's principal trademark. The statement also confirms that no such party has been convicted of or pleaded nolo contendere to a misdemeanor charge within the 10 years immediately preceding the application for registration, or been the subject of a civil action alleging violation of franchise, antifraud, or securities law; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices or comparable allegations.
This disclosure is intended to provide transparency to potential franchisees regarding the legal and ethical background of Bombs Away and its associated parties. The absence of felony convictions or related legal issues can be seen as a positive indicator, suggesting a stable and reputable organization. However, it is important to note the phrase "except as provided above," which suggests there may be additional information disclosed elsewhere in the FDD that could modify this statement.
Prospective franchisees should carefully review the entire FDD, including Item 3 (which this excerpt amends), to understand the full scope of any legal or criminal history. They should also consider conducting their own independent research and due diligence to verify the information provided and assess any potential risks associated with investing in a Bombs Away franchise. Consulting with an attorney or financial advisor is recommended to fully understand the implications of these disclosures.