If you are have lost money with Today’s Growth Consultants DBA Income Store, you may be able to pursue recovery of those losses through securities or franchise litigation. Please call the Kons Law at (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your legal rights and options.
How Can I Pursue Recovery of Income Store Investment Losses?
The Income Store, part of Today’s Growth Consultants, is a Minooka, Illinois based enterprise that purportedly builds and buys revenue generating websites with third-party “Site Partners”. Upon information and belief, Income Store’s model is similar to real estate rental property and franchising whereby the Income Store identifies an opportunity to build or buy a website, and then seeks a financial “Site Partner” (investor) to fund the project in exchange for a percentage of revenue. After the Site Partner/investor is identified and funds the project, the Income Store then builds, manages, monetizes and maintains the website with a goal of providing a passive income to the “Site Partner”. In December 2019, the Income Store notified at least some of its Site Partners that it had faced various headwinds in its business which forced a moratorium on monthly payments to work out the issues.
What is an Investment Contract?
The arrangement between the Income Store and its Site Partners appears to be an “investment contract”, which is defined as a (i) fractionalized or pooled interest, program, contract, or other arrangement in which (ii) persons invest in a common enterprise the returns of which depend to any extent upon inducing other persons to participate or invest in the enterprise (iii) with the expectation of profit or some other form of benefit to the investor when the investor has no direct control over the investment or policy decisions of the venture. Under the United States Supreme Court case SEC v. W.J. Howey Co., 328 U.S. 293, 301 (1946), investment contracts are securities.
Under state and federal securities laws, all securities must be registered with the SEC and applicable state securities regulators, or exempt from registration. Upon information and belief, Today’s Growth Consultants dba Income Store did not register these securities with the SEC. Moreover, these securities do not appear to have been offered in a manner making them exempt from registration. Furthermore, to the extent that the Site Partners had control over the venture, franchise or business opportunity registration may have been required. Today’s Growth Consultants DBA Income Store does not appear to have registered as a franchise or business opportunity.
As a result, upon information and belief, Today’s Growth Consultants DBA Income Store may have engaged offered unregistered securities/franchises to unsuspecting investors across the United States. Fortunately for investor/Site Partners, they may be able to pursue rescission of their transactions or otherwise pursue recovery of their investment losses through securities or franchise litigation. The state and federal securities and franchise laws provide powerful remedies for investors/franchisees who purchase unregistered securities or unregistered franchises.
How Do I Recover Today’s Growth Consultants/Income Store Investment Losses?
In addition to direct claims, Investor/Site Partners may have viable third-party claims to bring against those that sold or otherwise materially participated in the Income Store transactions. Typical third-party claims target law firms, accounting firms, brokerage firms, banks, or other professional service or financial firms that may have materially participated in an unregistered offering of securities. Investor/Site Partners should contact our firm for a free, no obligation consultation to identify potential third-party claims.
Call Now To Discuss Today’s Growth Consultants DBA Income Store Investment Losses
If you have lost money with Today’s Growth Consultants DBA Income Store, please call Kons Law at (860) 920-5181 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options. Kons Law represents investors nationwide in securities litigation matters. To learn more about the Firm’s securities litigation practice, please visit www.investmentlossattorney.com.