Investment News: Ex-Triad Broker’s Company Loses Judgment

James Walesa, a former broker turned CEO of Clearday, faced a setback with a $6.2 million judgment related to real estate in Naples, Florida. He’s been accused of selling unsuitable, illiquid investments to clients, leading to claims seeking damages exceeding $35 million.

Dax White, a national securities attorney representing clients in these claims, highlighted concerns over Clearday’s stock, trading at a mere 0.54 cents per share, particularly for Walesa’s former clients.

The company’s involvement in litigation over its Naples residential community, coupled with a defaulted mortgage loan, adds to the uncertainty.

While Clearday is exploring options to address the judgment, including raising capital or negotiating a deal, its recent loan agreement amendment and additional proceeds of $100,000 offer some relief. Read the article on Investment News.