Local Investor Group Sues EnerBlu
Pike County investors have filed a lawsuit against EnerBlu, claiming the company misrepresented themselves in order for the group -Pikeville EB Investors- to purchase stock in the company.
The suit names CEO Michael Weber and an employee, Daniel Elliot. Back in December of 2017, state officials announced EnerBlu was building a high tech, $400M manufacturing plant in Pikeville.
But when the announcement was made, the compay didn’t have the money to construct their facility. A number of local business owners and individuals created Pikeville EB Investors to help fund the project and ended up purchasing more than $1.2M in EnerBlu stock.
Source: MG News
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