Announcement of No Class-action Lawsuit

I would like to inform you all that Attorney Henry Novak has stepped down from handling the Circle C class-action lawsuit. His departure actually occurred in late March shortly after William Gammon?’s lawsuit was initiated and after receipt of Board?’s response to his letters. Please see a scanned copy of Mr. Novak?’s e-mail at the bottom of this announcement at http://www.BeatGreedyBoard.com - ''What's New'' page. It will explain his decision for not pursuing this case. I have his approval in releasing his e-mail.

The underlying reason for why I initiated this class-action lawsuit against the Board was because I was being denied access to CCHOA?’s books and financial documents. I wanted to use the lawsuit to gain access to the financial documents so that I could find out the whole truth behind Circle C HOA?’s financial expenses. Thank to Mr. Gammon?’s lawsuit, the HOA?’s financial documents were being safe guarded at Gary & Becker?’s Law Firm for a couple of weeks. I seized the opportunity and spent four whole days at the law firm inspecting and copying the relevant documents I was eagerly looking for and have uncovered a lot of hard evidence after analyzing those documents. I believe I have already accomplished my goal.

To be frank, I never like class-action lawsuits. We all know that the real and only beneficiaries of class-action lawsuits are the lawyers. Who would be really punished? Of course, it would be the insurance companies, not the wrongdoers. To add insult to our injury, we, the homeowners, will be victimized twice; first by the Board of Directors?’ wrongdoing and then by the future insurance premium increase. Based on my estimation, the lawyer of this class-action lawsuit would stand to make about one million dollars, depending on how many items he or she will pursue. Each homeowner probably would make about $500 to $800 at the most, depending on how long you have been living in the Circle C.


TO ALL CIRCLE C TRIAL LAWYERS:
If you want to become one million dollars wealthier, you may take this case. Circle C HOA has a great Directors & Officers insurance coverage. The Board of Directors has increased the coverage when the insurance policy was renewed in October last year.

Even though I have dug out a lot of hard evidence from CCHOA?’s financial documents, the most damning evidence could be in the books of Alien, inc., Phoenix Holdings, Circle C Land Corp., Circle C Management LLC, Castle Realty Management Services, Giles & Shea, etc. If you are too frugal to hire a forensic auditor to do more deep investigation, don?’t even bother to file the class-action lawsuit.

One homeowner told me that he was disappointed after inspecting CCHOA?’s financial documents because he could not find the information about how much Susan Hoover was being paid as a ?‘consultant?’. I told him that he would most likely find out if he had access to the above companies?’ books.

I also wanted to let you know that I have no desire to become the lead plaintiff. However, you are very welcome to use my Investigative Reports to jump start the case. My investigation and analysis of those financial documents are not quite over yet. Please visit my web site at http://www.BeatGreedyBoard.com from time to time for the new reports.

(see Part II below)

Lawsuit (Part II)



TO ALL MY NEIGHBORS:

I hope my Investigative Reports have made all of us become more aware of the problems in our HOA and hopefully this will deter any future abuse by our Board of Directors.

I am determined in seeking justice for all of us homeowners so I have taken my finding to the District Attorney?’s Office and Internal Revenue Service. Since this part does not have any monetary reward, I doubt anyone else would do it if I don?’t.

I want to emphasize that the auditor who was hired by the Board performing the audit of the books for the Years 2000 and 2001 did not discover any wrongdoing and did not detect any fraud other than revealing the ?“Related Party Transactions?”. It seems to me that the person who hired the auditor could actually affect the outcome of the audit itself. I believe we should not let the Board hire its own auditor. If we want the auditor to work for us and protect our interest, we should hire our own auditor. Just remember, whether the auditor is hired by the Board or by us, in the end he or she will be paid by OUR hard-earned money. So, why not let us take control in our own hands.