Sichenzia Ross Ference Kesner LLP Represents Brekford Corporation in the sale of its Vehicle Services Business

brekford

Press Release – New York, NY – March 7, 2017 – Nationally recognized securities and corporate law firm Sichenzia Ross Ference Kesner LLP announced today that it has represented Brekford Corporation (“Brekford”) in the sale of 80.1% of its vehicle service business.

Pursuant to a Contribution and Unit Purchase Agreement, Brekford contributed substantially all assets and certain liabilities related to its law enforcement vehicle upfitting business to Global Public Safety, LLC (“GPS”) and sold 80.1% of the units of GPS for approximately $4 million in cash and a $2 million promissory note that will be secured by the purchaser’s GPS units. Brekford retains ownership of 19.9% of the units of GPS as a minority member.

The Sichenzia Ross Ference Kesner LLP team was led by partners Thomas Rose and David Manno.
Brekford provides state-of-the art automated traffic enforcement solutions to municipalities and other public safety agencies throughout the United States. Its services include automated speed, red light, and distracted driving camera enforcement programs. Brekford’s combination of automated traffic enforcement services with a longstanding background and foundation in public safety solutions offers a unique 360-degree solution for law enforcement agencies and municipalities.

Sichenzia Ross Ference LLP

Sichenzia Ross Ference LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry.  In addition to handling routine to complex commercial matters, SRF’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations.  The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation.  Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies.  The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA).  These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct.  Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records.  The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.

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