The SE Texas Record Jun. 30, 2016, 12:21pm


TYLER — Two former business partners from California are suing a Plano company and its managing members, alleging securities fraud and breach of contract.

Worldventures Holdings LLC, Michael Azcue, Wayne Nugent and Daniel Stammen, Nevada company and its managing-members, citing alleged breach of contract and securities fraud.

Myron A. Wick III of Sausalito, California, and Virginia A. Walker of Chico, California, filed a lawsuit June 27 in the Tyler Division of the Eastern District of Texas against Worldventures Holdings LLC, Michael Azcue, Wayne Nugent and Daniel Stammen, alleging violation of the registration and anti-fraud provisions of the Texas Securities Act.

According to the complaint, Wick and Walker, as well as their contract, were terminated in February 2015, causing them to suffer actual damages and economic damages. 

The plaintiffs allege the defendants employed devices, schemes and artifices to defraud, obtained money or property by means of untrue statements of a material fact, and engaged in transactions, practices and courses of business which act or would act as fraud and deceit upon purchasers, prospective purchasers and other persons.

Wick and Walker seek trial by jury, judgment of at least $10 million, disgorgement of the profits the defendants made by fraud, punitive damages, costs of suit, reasonable attorney fees and such other relief as the court deems proper. They are represented by attorneys Otis W. Carroll of Ireland, Carroll & Kelley PC in Tyler, and Nicholas L. Everett of Tyler.

Tyler Division of the Eastern District of Texas Case number 6:16-cv-00931

Organizations in this Story

Tyler Division of the Eastern District of Texas
211 West Ferguson Street
Tyler, TX 75702

Worldventures Holdings, LLC
5100 Tennyson Pkwy
Plano, TX 75024

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