February 27, 2015- Columbia, South Carolina
The Securities Commissioner of the State of South Carolina has filed an Order to Cease and Desist against a Garland, Texas, Company and one of its promoters , to halt sales of unregistered oil and gas investments in South Carolina and assessing fines.
Cannon Operating Company, LLC, a Texas limited liability company and John Griffin, an employee of Cannon, both located at 3200, Suite 220, Garland, Texas, are alleged to have solicited a resident of South Carolina to invest in an oil well project located in Louisiana.
The South Carolina Order alleges that Cannon’s website ( http://www.cannonoperating.info/ ) “offers industry level opportunities to the individual investor” with the goal of helping investors “increase (their) wealth”. The South Carolina regulators allege that Canon failed to provide a prospectus, private placement memorandum or offering document of any kind and failed to disclose that on May 7, 2013, Cannon had been the subject of a final order from the Texas Railroad Commission canceling Cannon’s Certificate of Compliance and severing its pipeline and other carrier connections in the State of Texas.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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