I believe all Buddy shareholders are victims of misleading or deceptive conduct by Buddy Technologies. Pursuant to the Section 18 of the Australian Consumer Law, which is found in schedule 2 of the Competition and Consumer Act 2010, Misleading or Deceptive conduct is define as:
"(1) A person must not, in trade or commerce, engage in conduct that is misleading or deceptive or is likely to mislead or deceive."
In chapter 3, Division 1, Section 29, it goes further to say:
(1) A person must not, in trade or commerce, in connection with the supply or possible supply of goods or services or in connection with the promotion by any means of the supply or use of goods or services:
(b) make a false or misleading representation that services are of a particular standard, quality, value or grade; or (Daverepeatedly told us how amazing Ohm 1 was - when it wasn't. I have proof of thisfrom a User and Dave admitted it himself. Also telling a group of investorsBuddy were getting $750 average an ohm from Suncorp in Sydney - over 30 levelsof the building and getting $5,000 USD a month from some ohms in the Caribbean).
(d) make a false or misleading representation that a particular person has agreed to acquire goods or services; or ($69mfrom Ingram, Rizon, Digicel, etc etc etc)
(e) make a false or misleading representation that purports to be a testimonial by any person relating to goods or services; or (Dave paraded the head of Dicker Data at theEstablishment event, telling everyone how amazing Ohm is (they are a user),when in reality they've probably never sold one and aren't even trying. Alsoconstantly claiming the CEO of Ingram was mad keen on Ohm despite nothing everhappening)
(f) make a false or misleading representation concerningi) a testimonial by any person; or(ii) a representation that purports to be such a testimonial;
(i)make a false or misleading representation with respect to the price of goods or services; or
(l) make a false or misleading representation concerning the need for any goods or services; or (501possible deals, people lined up around the corner. Greater demand and salesthis qtr than ever before!!)
Most recently we had the "imminent" deals release. That was 2 months ago and we've heard nothing. Legally, Silence can also be deemed misleading and deceptive conduct!
We have a CEO that has known for years he can’t generate enough income to sustain the business. His only option is to deceive people into investing money to keep the business afloat by making exaggerated and deliberately misleading claims about impending deals – NONE OF WHICH HAVE EVER MATERIALISED.
A class action would obviously show that many people believe that have been deceived rather than me filing the action myself. Time for Dave to face the music...
