Microfinancial aka Leasecomm aka TimePayment
& other aliases are Running Scared

Since the “devastating” loss of the Microfinancial/Leasecomm Corporation vs Idorenyin Akpaffiong and the resulting counter suit (http://www.boston.com/business/articles/... ), every major case involving Leasecomm/ Microfinancial seems to have gone the same way and the opposing attorneys aren’t talking---- even those who freely discussed their efforts in the past. If they say anything such as “that case is no longer active”, you can hear the pure joy and elation in their voice.

Have you ever heard of a lawyer being happy and elated for losing a case that he has worked on for years? Of course not! You can bet that they were handsomely paid to drop their case and part of the settlement included an order not to discuss the case. Have you ever known a lawyer who wasn’t eager to brag about his “legal prowess”?

My bet is that practically every opponent who has an attorney will soon reach a generous settlement and will happily agree to a dismissal.

Leasecomm is still pursueing their most "helpless victims that can't afford lawyers" but now it should be easier for victims to get an attorney to take their cases on a contingency basis. Mike Brennan is one such "helpless" victim who seems to be doing pretty good with a free attorney from Legal  Services Corporation (a U.S. govt. sponsored organization that helps provide the poor with attorneys).

Microfinancial CEO Richard Latour’s recent press release mentioned “the dismissal of the attempted shareholder class action”, but failed to mention the reason for the dismissal.

 I intend to find out how they are going to hide their legal expenditures from the Securities and Exchange Commission and most importantly from their investors.