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Play N Trade Corp Charged with 53 Counts Of Franchise Violations

The California Corporations Commissioner… finds that Play N Trade Franchise, Inc. … has violated multiple provisions of the California Franchise Investment Law ("Franchise Investment Law")."

In the complaint, the California Corporations Commissioner asserts that "…Play N Trade Franchise, Inc. has committed multiple violations of the California Franchise Investment Law in the course of conducting business with no less than 53 California franchisees since the date of its initial franchise registration in California."

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unhappyfranchisee.com
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seuferwoman3397d ago

It was only a matter of time..

Imallvol73397d ago

The President and CEO Replied to the article, I posted it here.

# Larry Plotnick on April 24th, 2009 9:21 pm

As the President and CEO of Play N Trade I feel it is important to be clear that the above headline is misleading and incorrect. It is very unfortunate that http://www.unhappyfranchise... would state that Play N Trade has been found guilty of anything, when nothing could be further from the truth.

Play N Trade has not been found guilty of any wrong doing, and that the citation highlighted is a preliminary order that is not final. We are working closely with our Attorneys and the California Department of Corporations to clarify and settle this matter quickly and with the least amount of impact to our franchisees.

This preliminary order only impacts the state of California, and will not be finalized until the completion of a negotiation or appeals process.

Play N Trade Corporation takes this and all legal matters very seriously, and are and will cooperate fully with all state agencies.

We will be communicating with our current and future franchisees appropriately as facts become available.

Sincerely,

Larry Plotnick
President and CEO
Play N Trade, Inc.

Ed. Note: I don’t believe that the statement was false, as it was the Commissioner’s conclusion (yes, opinion) that PnT was guilty of violating CA investment laws. But I see Mr. Plotnick’s point that the original post could be misinterpreted as referring to the final verdict of a legal process that is still underway. I’ve revised the opening statement to make it clear that this is an ongoing process, and also changed “Revoked” to “Suspended” in the headline.

Mikerra173397d ago

then this should not be approved

asyouburn3397d ago (Edited 3397d ago )

personally, i hope this gets approved. . . anyone with ties to play n trade, or anyone thinking of joining the franchise needs to read this

asyouburn3397d ago

in response to your comment, michael jackson also denied having sex with children

Relin3396d ago

Until someone is found guilt in a court of law, they are merely accused of a crime. Saying they are guilt is a form a slander, and printing it is a form of libel -- and considering the publicity Play n' Trade has to lose, they'd be happy to take someone to court over it.

Protect yourself and follow the rules.

DirtyLary3396d ago

All the new PnT franchises in Nor Cal are already going out of business.