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Blockchain Loyalty Corp., Also Known as Belle Bonica Luxe Corp., May Pursue Legal Action Against its Former Transfer Agent, Legacy Stock Transfer Inc. for Obstruction and Breach of Duty
Blockchain Loyalty Corp., Also Known as Belle Bonica Luxe Corp., May Pursue Legal Action Against its Former Transfer Agent, Legacy Stock Transfer Inc. for Obstruction and Breach of Duty.
About this update from Blockchain Loyalty Corp.
[{"type":"text","content":"PORTLAND, OR / ACCESSWIRE / January 8, 2025 / Blockchain Loyalty Corp. (OTC PINK:BBLC), also known as Belle Bonica Luxe Corp., a publicly traded non-reporting issuer listed on the OTC Markets, would like to inform its shareholders that it is aware of their frustrations with the Company's former transfer agent, Legacy Stock Transfer, Inc., and its lack of cooperation with Blockchain's daily transfer needs.The Company shares your disappointment and today announced it is considering all of its available remedies including, but not limited to, regulatory authorities and legal action against its former transfer agent citing obstruction of the company's operations, breaches of fiduciary duty, and a troubling pattern of misconduct.On November 20, 2024, Blockchain Loyalty Corp. officially terminated Legacy Stock Transfer as its transfer agent via a cancellation resolution and engaged Transfer Online Inc. as its new transfer agent. Despite efforts to ensure a seamless transition, Legacy Stock Transfer has:1. Failed to notify TA Services and DTCC that it is no longer the transfer agent for Blockchain Loyalty Corp.2. Refused to designate Transfer Online Inc. as the new transfer agent through proper regulatory channels.3. Withheld all shareholder records required for the transition, despite verbal assurances on December 16, 2024, that the necessary documents would be provided "within the hour."4. Failed to provide a final invoice for services rendered, as initially promised on November 20, 2024.Exploring Legal Options for Accountability"While we are hopeful that Legacy Stock Transfer will comply with our requests, we are also evaluating all legal remedies to hold them accountable for their actions," said Joel DeBellefeuille, CEO and Chairman of BBLC. "Our shareholders deserve transparency and accountability, and we intend to take the necessary steps to ensure these principles are upheld."A Troubling Pattern of MisconductLegacy Stock Transfer, previously known as Signature Stock Transfer Inc., has a documented history of legal and regulatory concerns, including:In 2003, the SEC filed a complaint detailing how individuals used Signature Stock Transfer to facilitate fraudulent transactions involving public shell companies.Repeated complaints about delays in processing investor requests and unprofessional conduct, ...