SOURCE: Golden State Business Capital

March 05, 2013 06:00 ET

Motion Filed With US District Court, Northern District of California, for Dismissal of SEC v. Small Business Capital Corp.

LOS ALTOS, CA--(Marketwire - Mar 5, 2013) - Golden State Business Capital announced today that a motion has been filed with the Northern California District of the United States District Court for a dismissal of the lawsuit "SEC v. Small Business Capital Corp" et al, Honorable Edward J. Davila, presiding Judge.

Mark Feathers, CEO of Golden State Business Capital and former CEO of Small Business Capital Corp., a U.S. Small Business Administration licensed national Small Business Lending Company ("SBLC") manager, states, "The lawsuit motion filing demonstrates that the SEC employed an improper and inaccurate licensing description of the court appointed receiver as a 'licensed certified public accountant.' The filed motion, court docket no 275, requests the court to dismiss the lawsuit at its hearing on May 10th, 2013, and for sanctions against the SEC, receiver, and his counsel for the false presentation to the court of the receiver's licensing credentials.

"We look forward to the court hearing date on this matter on May 10th, 2013, to the dismissal of the court appointed receiver, and to the return of Small Business Capital Corp. to its prior lawful management," states Feathers.

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