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) October 31, 2003
NUTEK, INC.
(Exact name of Registrant as specified in charter)
Nevada 0-29087 87-0374623
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification)
6330 McLeod Drive, Suite 1, Las Vegas, NV 89120
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 262-2061
ITEM 5. OTHER ITEMS
On March 21, 2003, the Company, along with a number of individual shareholders,
filed a federal lawsuit in the United States District Court, District of
Nevada, Case No. CV-S-03-0321-JCM-RJJ, against Ameritrade Holding Corp.,
E*Trade Group Inc., Fidelity Brokerage Services LLC, Maxim Group LLC and
Charles Schwab & Company Inc., for securities fraud, breach of contract, and
negligence, among other claims. The plaintiffs sought (a) declaratory and
injunctive relief, (b) including general, special and punitive financial
damages, and (c) a jury trial.
Today, the plaintiffs filed an amended complaint alleging securities fraud;
common law fraud; conversion; negligence; breach of contract; breach of
covenant of good faith and fair dealing; negligence based on knowledge of
specific problems in the securities industry; bad faith conduct; deceptive
trade practice; racketeering; interference with contracts; interference with
prospective economic advantages; conversion; conspiracy; declaratory relief and
injunctive relief. The amended complaint also added (a) fifteen (15) additional
plaintiffs, bringing the total number of plaintiffs to twenty-five (25), and
(b) thirty (30) additional defendants, including twenty two (22) named
individuals from the securities industry.
The twenty-five (25) plaintiff shareholders have collectively purchased in
excess of 4,827,981 shares of Nutek Inc., for which physical delivery has been
demanded. In addition to delivery of their physical share certificates, the
plaintiffs are each seeking $10 million in general damages and $10 million in
punitive damages, to be tripled under the RICO Act for the failed delivery of
their shares and other misconduct.
The complete list of defendants in the amended complaint is as follows:
AMERITRADE, INC., a Nebraska corporation; E*TRADE GROUP, INC., a Delaware
corporation; FIDELITY BROKERAGE SERVICES, LLC, a Delaware Limited Liability
Company; MAXIM GROUP, LLC., a New York Limited Liability Company; CHARLES
SCHWAB & CO., INC., a California Corporation; HARRIS INVESTOR SERVICES, LLC DBA
HARRISDIRECT, a foreign limited liability company; SCOTTRADE, INC, a foreign
corporation; SECURITIES AMERICA, INC. a foreign corporation; TD WATERHOUSE
INVESTOR SERVICES INC., a foreign corporation; DEPOSITORY TRUST COMPANY, a
New York Limited Purpose Trust Company; DEPOSITORY TRUST AND CLEARING
CORPORATION, a New York corporation; NATIONAL SECURITIES CLEARING
CORPORATION, a foreign corporation; FIXED INCOME CLEARING CORPORATION, a
foreign corporation; the twenty-two (22) individual defendants are the DTCC
directors, and one former director. DOES 1 through 100, inclusive; and ROE
CORPORATIONS 1 through 100, inclusive
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: October 31, 2003
NUTEK, INC.
By:
/s/ Murray N. Conradie
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Murray Conradie, President