LOS ANGELES, Feb. 15, 2005 (PRIMEZONE) -- Former Victory Capital Holdings Corp. (OTCBB:VTYC) CEO George Sharp announced today that his Counsel has issued a subpoena to Keller Williams Realty, Inc. for information with respect to a civil action for Fraud, Negligent Misrepresentation, and Breach of Contract which names Victory Capital, its former CEO and Chairman Harold Gregg and Michael Osborn as defendants.
In an SEC Filing of December 23, 2004, Victory Capital indicated its Principal Executive Office to be at 8560 West Sunset Boulevard, 3rd Floor, West Hollywood, California. This address proves to be offices of Keller Williams Realty, a significant real estate brokerage concern. Mr. Sharp stated, "While there were past news releases of a customer - vendor relationship, apparently there is or was an undisclosed relationship between Keller Williams and Victory Capital, either as landlord and tenant or as business partners of some sort. Whatever that relationship may be, I am hoping that Keller Williams will be able disclose the whereabouts of Michael Osborn who we have not been able to serve with his summons as of yet; as well as provide other information pertinent to the action."
The December 23, 2004 filing came after Mr. Sharp's Counsel forwarded to the SEC, a letter from Victory's Counsel John L. Smaha. Mr. Smaha's offices at 7860 Mission Center Court, Suite 100, San Diego, California were listed as Victory Capital's Principal Executive Office in an SEC filing, most recently on September 10, 2004. Mr. Smaha stated in his letter that Victory Capital did not have authorization to use his office as the Company's Principal Executive Office. After Keller Williams' Austin, Texas Head Office was informed of the pending service, Victory Capital filed a new address with the SEC within its January 24, 2005 8-K filing. This address: 11718 Barrington Court, Los Angeles, California, proves to be an empty storefront.
At the time of this release, it is unknown whether Keller Williams has been successfully served with the summons.