Investors in former firm in Maumee hire counsel

6/11/2013

Investors in the former Maumee Authority Stamping have hired a law firm to seek compensation for their losses in the venture which operated in the former Ford plant in Maumee starting in 2008 and was evicted a year later.

Fishman Haygood Phelps Walmsley Willis & Swanson of New Orleans has been retained.

Attorneys for the investors say the Maumee Authority Stamping investment program was not registered with federal securities regulators as required. This is the second time investors, many of whom paid at least $16,000 in hopes of restarting the plant and getting a job there, have tried to recoup their losses.

In 2009 about a dozen hired a Toledo attorney, Scott Ciolek. He found that the plant had few tangible assets and its machinery already had several liens.