Daily News: March 5, 2013

Golden State Files for Dismissal of SEC Lawsuit

Golden State Business Capital announced that a motion has been filed with the Northern California District of the U.S. District Court for a dismissal of the lawsuit SEC v. Small Business Capital.

Mark Feathers, CEO of Golden State Business Capital and former CEO of Small Business Capital, a U.S. SBA licensed national small business lending company manager, said, “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 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 to its prior lawful management,” said Feathers.