TARGET OIL & GAS CORP. V. COM.
ADMINISTRATIVE LAW: Agency’s subpoena power
2004-CA-001947
PUBLISHED
AFFIRMING (KNOPF)
DATE: 5/26/2006
Target Oil and Gas Corporation and Target’s president, Michael Smith, (Target) appeal from an order of the Franklin Circuit Court requiring Target to comply with a subpoena duces tecum issued by the executive director of the Commonwealth’s Office of Financial Institutions. Target maintains that the subpoena exceeds the director’s investigative authority and otherwise amounts to an unconstitutional invasion of its internal affairs. An inquiry into potential securities fraud is within the director’s authority as is a subpoena to further that inquiry.
Digested, M. Stevens
I invested with another oil company from ky that also had to turn all of their records over. Less than 2 weeks later I started getting about 10 calls a day from other oil companies in ky. The only reasonable explanation I can think of is that when the state of ky got all of their information they sold it out to other oil companies because up until then I had never received any calls from any oil companies. My son and neighbor also invested with the same company I did and they also started receiving sales calls from other oil companies from ky about 2 weeks after thier info was turned in. I can’t think of any other explantion of why we would all start getting tons of sales calls 2 weeks after the state of ky got all of their records. I agree with target, I don’t think they should turn thier records over just so the state can sell thier investor’s names to other oil companies.
Absolutly the most honest Oil company i have ever invested with. I support Target 100% when I invested I didn’t agree to turn my personal information over to anyone but them