Stating concern about an asset sale. The amended complaint adds a section titled “Defendants Attempt to Sell Epik and Its Assets”. It explains that Epik CEO Brian Royce recently tweeted about negotiating asset sales and that former CEO Rob Monster confirmed to Adkisson on May 12 “that he understood ‘that an asset sale is being finalized'”. The complaint states, “If an asset sale is completed, Epik intends to pay its creditors before repaying the consumers whose funds Defendants misappropriated.”
Adds examples of more people who say they were ripped off.
From the response to Brian Royce's motion to dismiss him from the lawsuit -
In his Motion, Royce focuses largely on what he terms a “timing issue,” claiming that because he did not become CEO of Epik until after Mr. Adkisson transferred his funds to Epik, Royce cannot be liable. This is chronological sophistry. Royce purposefully omits that as CEO of Epik he personally made several materially false representations to Mr. Adkisson about repaying Mr. Adkisson’s funds—which Epik was purportedly holding in escrow. Royce deliberately misled Mr. Adkisson for months while Defendants embezzled Mr. Adkisson’s funds for purposes other than what Mr. Adkisson had intended. That is illegal. And, as detailed in the Amended Complaint, Royce was not just involved in this tortious conduct, he is in charge of it as the only person fully in control of Epik’s finances.
There are also references to other customers including Kathleen, Domain Empire, as well as references to taking payments for registration / renewals and never actually processing them.
A new TRO was just filed in the Epik case. The **** has really hit the fan.
According the to the filing - Defendants intend on transferring all of Epik’s value to a new shell entity that an “elusive” buyer recently created in Wyoming, leaving Epik with no way to pay a judgment in this case."
What Epik appears to be trying to do is so blatant - trying to shift assets, and leave customers and everyone else holding the bag for their corporate abuse.
The "buyer" is Epik LLC in Wyoming.
The "seller" is Epik Holdings Inc. / Epik Inc. in Washington / Terra Host AS.