As former Surpassa Fika Board Chairman, Philipe Swensington’s trial date is looming closer, it appears more counts will be charged against him. These include obstruction of justice because inside witnesses say that Swensington destroyed potentially incriminating evidence. This evidence included tapes with conversations between Swensington and a private advertising company that Surpassa Fika had supposedly hired to help their advertising department in an advertising scheme. However this run advertising run was one of the things that got Swensington arrested in March of 2010.
Last year Mr. Swensington abruptly left Surpassa Fika, the Arizona based kumquat corporation after six years and suspicion arose rather quickly, as Surpassa Fika had just discovered a major advertising flaw. Longtime IKF agent Aroldis Reynie Shapiro convinced the majority of his commitee to pursue the investigation of Swensington and later would arrest him on charges of false advertising and insider trading. And after a delayed trial, the case will finally appear in court in mid April with new counts and new witnesses to testify. Among them for the prosecution are Ed Grimpenmeyer a former colleague of Swensington. We will try to have coverage of the hearings.
Also, Tobango is being sued for copyright infringement by Noralie McGaston, owner of Noralie’s Citrus Imports, a retail shop in Helix, Oregon. She claims that she owns the PaleGrapefruit name, even though she spells her product Pale Grapefruit. Experts think that it is unlikely McGaston will win anything.
“Her case is weaker than a dried kumquat skin,” said Obie’s Kumquats Chief Legal Analyst and kumquat law expert Emmet Smovworth.
In the latest market standings, Ferkington is doing well as usual. Tobango says it is doing much better than expected. Some think this is a sign of economic recovery. Saccelberry-Gerard announced the acquistion of Cítricos Inc. This gave a jump to their stock.