- Current report filing (8-K)
December 01 2009 - 6:02AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of
earliest event reported)
November 24, 2009
CLST
Holdings, Inc.
(Exact name of registrant as specified in its charter)
Delaware
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0-22972
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75-2479727
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(State or Other Jurisdiction
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(Commission File Number)
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(I.R.S. Employer
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of Incorporation)
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Identification No.)
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17304 Preston Road, Suite 420
Dallas, Texas, 75252
(Address of principal
executive offices including Zip Code)
(972)
267-0500
(Registrants telephone
number, including area code)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 8.01.
Other Events
On November 24,
2009, the United States Attorney for the Southern District of Indiana filed a
civil complaint (the Civil Complaint) in federal district court in the
Southern District of Indiana, Indianapolis Division, seeking seizure of assets
and accounts held by Timothy Durham and certain of his affiliates, including
Fair Finance Co. (Fair). At the same
time, agents from the Federal Bureau of Investigation exercised a warrant and
took documents and computers from Mr. Durhams offices, and those of two
of his affiliates, Fair and Obsidian Enterprises. Mr. Durham is Chairman of our Board of
Directors. The Civil Complaint alleges,
among other things, that the assets and accounts sought to be seized are the
product of wire fraud in violation of Title 18, United States Code, Sections
1345 and 1355. A copy of the Civil
Complaint is attached hereto as Exhibit 99.1.
The Civil Complaint was
dismissed on Monday, November 30, 2009 by the United States Attorney for
the Southern District of Indiana. A copy
of the United States Notice of Dismissal is attached hereto as Exhibit 99.2.
Also, on November 24,
2009, we received a subpoena from the Division of Enforcement of the Securities
and Exchange Commission (SEC) entitled In Re Fair Finance. The subpoena requires us to produce a variety
of documents relating to our portfolio transactions, including transactions
with Fair, and also seeks documents relating to several individuals, including
our directors, Mr. Durham, Robert Kaiser, and David Tornek. A copy of the subpoena is attached hereto as Exhibit 99.3.
Each of our directors,
Timothy S. Durham, Robert Kaiser, and David Tornek have also received a
subpoena from the SEC with the subject notation In Re Fair Finance. Mr. Kaiser is also our Chief Executive
Officer.
The Company and its
directors expect to cooperate with the SEC in their investigation. We are currently unable to predict what the
outcome of the investigation will be.
Item
9.01.
Financial Statements and
Exhibits.
(d) Exhibits.
99.1
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Complaint of Forfeiture
in Rem filed on November 24, 2009
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99.2
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United States Notice of
Dismissal filed on November 30, 2009
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99.3
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Subpoena from United
States of America Securities and Exchange Commission dated November 24,
2009
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SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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CLST
HOLDINGS, INC.
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Dated:
November 30, 2009
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By:
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/s/
Robert A. Kaiser
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Robert A. Kaiser
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President, Chief
Executive Officer,
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Chief Financial Officer and Treasurer
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