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SPAC Recovery Co. Announces $590 Million Lawsuit Against Blackstone Products, Nomura Securities, Franklin Square, Oaktree and Others for Alleged Fraudulent Scheme

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SPAC Recovery Co., formerly Ackrell SPAC Partners I Co., (the “Company” or “Plaintiff”) filed on May 13th a major lawsuit in the Supreme Court of the State of New York, seeking over $590 million in damages against various defendants jointly and severally. The defendants include North Atlantic Imports, LLC (d/b/a Blackstone Products Nomura Securities International, Inc., FS Credit Opportunities Corp. and related entities, Oaktree Capital Management LP and related entities , and individuals, including Blackstone’s CEO Roger Dahle and employees of other defendants.  The litigation complaint alleges a coordinated scheme by defendants (collectively the “Cabal”) to undermine the Plaintiff’s acquisition of Blackstone Products, a leading manufacturer of outdoor cooking products.  Blackstone Products was acquired in May 2025 by its leading industry competitor, Weber-Stephens Products, LLC, which is owned by the private equity firm BDT & MSD Partners .  The Company’s lawsuit, SPAC Recovery Co versus North Atlantic Imports, LLC et al, was filed on May 13, 2025 in the Supreme Court of the State of New York, County of New York, and the case index number is 652916/2025 https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=9WzEDH461bLKqpx4OmhPsA==.

The complaint describes other alleged members of the Cabal, who are not included as defendants in the initial filed complaint, including:  Ackrell Capital LLC, its’ owner Michael Ackrell and the law firm of O’Melveny & Myers (“OMM”).  The Company is currently engaged in FINRA arbitration against Ackrell Capital covering the same allegations.  During the acquisition transaction, OMM provided legal advice to the Plaintiff also well as certain members of the Cabal, namely defendant Blackstone Products, Ackrell Capital and Michael Ackrell.

“SPAC Recovery Co. was betrayed by a deliberate scheme that materially harmed our investors,” said a company spokesperson. “We are committed to holding all of the defendants accountable for their actions and securing justice for our stakeholders.”

The lawsuit accuses the defendants of breaching contractual and fiduciary duties by misusing confidential information and orchestrating an alternative transaction to exclude SPAC Recovery Co. which closed in December 2022. The complaint alleges numerous unlawful acts committed by the Cabal, led by (i) non-defendant Michael Ackrell (then Chairman of SPAC Recovery Co.’s board and owner of Ackrell Capital, which was also engaged as financial advisor to Blackstone Products) and (ii) defendant Roger Dahle (founder and CEO of Blackstone Products),  including:

  • Breaching the Business Combination Agreement, Confidentiality Agreement, and Nomura and FS engagement agreements.
  • Sharing confidential information to facilitate a transaction intended to harm the Company and benefit Blackstone Products and the Cabal.

– The complaint alleges that Nomura, which was engaged by the Company to be its advisor, misled the Company’s Board of Directors during the period of the fraud.  While Nomura claimed to the Company’s board that its’ efforts were focused solely on closing the acquisition transaction, instead it was allegedly collaborating with the Cabal in furtherance of the fraud, in violation of Nomura’s professional duties to the Company.  Specifically, it is alleged that Nomura assisted Michael Ackrell and Roger Dahle to convince investors FS and Oaktree, to participate in the competing transaction, in violation of various agreements, which caused the demise of the Company’s intended acquisition.   

Bolstering the plaintiff’s allegations of unethical and unlawful conduct by Nomura, are the recent history of regulatory and litigation issues, including:  A $50 million SEC penalty in 2022 for off-channel communications; a $35 million penalty in 2023 for residential mortgage-backed securities fraud; and multiple fines in 2025 for naked short selling in South Korea.

The Company asserts 12 causes of action against defendants, including breach of contract, intentional interference, aiding and abetting fiduciary breaches, and respondeat superior, and is seeking: (i) $54 million in compensatory damages, (ii) $537 million in punitive damages, (iii) Specific performance to enforce the BCA, requiring Blackstone Products to sell 18% of its equity to the Company, (iv) Appointment of a receiver to oversee Blackstone Product’s financial activities during litigation, and (v) Reimbursement of attorney fees and costs.

The Company is asking for any individuals with first-hand knowledge of the actions described above, which inflicted the material financial damage on the Company, to please email the Company, or via legal counsel, to discuss in confidence their possible assistance.

About SPAC Recovery Co. – The plaintiff is a Delaware corporation originally formed to pursue a merger or acquisition of an operating business, and had raised approximately $138 million for such purpose.  As a consequence of the alleged fraud, the Company is now solely dedicated to protecting the financial interest of its creditors and investors.  The Company has secured funded litigation financing which it believes is sufficient to fully prosecute its’ case against all Defendants.

For press inquiries, contact the Company via:  [email protected]

The Press Release SPAC Recovery Co. Announces $590 Million Lawsuit Against Blackstone Products, Nomura Securities, Franklin Square, Oaktree and Others for Alleged Fraudulent Scheme appeared first on Pinion Newswire.

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UK Financial Ltd Announces MAYA 3™ — One Contract Address Across Four Major Blockchains, Establishing the Next Generation of Multi-Chain Liquidity Infrastructure

DOVER, DELAWARECREATE2-Powered Deployment Positions MAYA 3 as the Official Multi-Chain Utility Asset and Liquidity Gateway for the UK Financial Ltd Ecosystem

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UK Financial Ltd today announced the successful deployment and verification of MAYA 3™, the company’s official multi-chain utility asset and liquidity gateway, utilizing a CREATE2 deployment architecture that allows the token to maintain one contract address across four major blockchain networks.

The Fully Verified MAYA 3 Ecosystem which spans across 4 blockchains can be found at:

https://bscscan.com/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code
https://etherscan.io/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code
https://basescan.org/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code
https://arbiscan.io/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code

The achievement represents a significant technical milestone for the company and its expanding digital asset ecosystem.

While most blockchain projects deploy separate contract addresses for each network they support, MAYA 3 was engineered using a CREATE2 deterministic deployment framework, enabling the same contract address structure to exist across multiple supported chains. This approach creates a more unified experience for users, exchanges, wallet providers, developers, and ecosystem participants.

WhatsApp Image 2026 06 24 at 5.29.12 PM UK Financial Ltd Announces MAYA 3™ — One Contract Address Across Four Major Blockchains, Establishing the Next Generation of Multi-Chain Liquidity Infrastructure

One Address. Four Blockchains. Fully Verified.

MAYA 3 has already been successfully deployed and verified on:

  • Ethereum
  • BNB Smart Chain (BSC)
  • Base
  • Arbitrum

The Fully Verified MAYA 3 Ecosystem

The ecosystem spans across 4 blockchains and can be found at:

https://etherscan.io/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code
https://bscscan.com/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code
https://basescan.org/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code
https://arbiscan.io/address/0xD29CdE63905C86125126b9379b82f83F332808E4#code

The deployment establishes MAYA 3 as a foundational infrastructure component within the UK Financial Ltd ecosystem, designed to facilitate future interoperability, liquidity management, digital asset integration, and ecosystem-wide utility across multiple blockchain environments.

“Most projects create one token and then replicate it with separate contract structures across multiple networks,” said James Dahlke, President and CEO of UK Financial Ltd. “With MAYA 3, we pursued a different path. We wanted a cleaner architecture, a stronger identity layer, and a unified digital asset framework capable of supporting the long-term growth of our ecosystem. MAYA 3 is not simply another token. It is part of the infrastructure we believe will help power the next chapter of digital finance.”
The company is currently completing metadata propagation and ecosystem integrations designed to accelerate visibility across major wallets, explorers, platforms, and digital asset infrastructure providers worldwide. UK Financial Ltd expects MAYA 3 to become increasingly visible throughout the broader blockchain ecosystem as metadata updates are processed by participating platforms and service providers.

Integration with Maya Preferred PRA Ecosystem

UK Financial Ltd also confirmed that MAYA 3 has been integrated into the broader Maya Preferred PRA ecosystem, where it is expected to serve as a strategic utility and liquidity component supporting future ecosystem development.

The integration further expands the company’s long-term vision of connecting digital assets, tokenized infrastructure, blockchain services, exchanges, wallets, and future financial products through a unified framework.

The company believes the combination of multi-chain deployment, deterministic contract architecture, and ecosystem integration positions MAYA 3 as a key component of its ongoing blockchain strategy.

CoinMarketCap Verification Process Continues

Separately, UK Financial Ltd confirmed that its previously submitted circulating supply verification materials regarding Maya Preferred PRA remain under review.

According to correspondence received from CoinMarketCap, the company was advised that no additional submissions were required at this time and that the review process would continue based upon the verification team’s assessment procedures.

The company stated that it remains committed to transparency and cooperation throughout the review process and will continue evaluating all available industry-standard verification pathways as part of its broader commitment to providing accurate market information to the public.

Planned Exchange Availability

UK Financial Ltd further announced that it intends to pursue initial market availability and ecosystem expansion initiatives for MAYA 3, including planned integration efforts with partner platforms and exchanges.

Additional details regarding trading availability, ecosystem utility, wallet integrations, and future development milestones are expected to be released in forthcoming announcements.

Building for the Future

Since its founding, UK Financial Ltd has focused on developing blockchain-based financial infrastructure, tokenized asset systems, digital wallet technologies, exchange platforms, and compliance-focused blockchain solutions.

MAYA 3 is the official multi-chain utility asset and liquidity gateway for the UK Financial Ltd ecosystem. The launch of MAYA 3 represents another step in that evolution.

The Future Is Here. The Future Is Now. MAYA 3 Has Arrived.

About UK Financial Ltd

UK Financial Ltd is a financial technology and blockchain infrastructure company focused on digital assets, tokenization, multi-chain technologies, wallet solutions, exchange platforms, and ecosystem development. Through initiatives including the Maya Preferred ecosystem, MayaPro Wallet, MYEX Exchange, and related blockchain infrastructure projects, the company seeks to develop next-generation financial technologies designed for a globally connected digital economy.

Media Contact

Contact: James Dahlke, President & CEO
MAYA 3 Website: https://www.mayapreferred.io/maya3
Corporate Website: https://ukfinancialltd.com
Maya Preferred Website: https://mayapreferred.io

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Independent Certification Supports Co-Impact Sourcing Review

PLEASANT GROVE, UtahdoTERRA outlines 2025 ethical sourcing milestones, third-party verification progress, and 2026 supply-chain assessment plans doTERRA International LLC has outlined recent third-party certification and verification milestones connected to its Co-Impact Sourcing program, highlighting how independent review is being applied across selected botanical supply chains. The update follows two sourcing-related milestones reached in late 2025. The company […]

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doTERRA outlines 2025 ethical sourcing milestones, third-party verification progress, and 2026 supply-chain assessment plans

doTERRA International LLC has outlined recent third-party certification and verification milestones connected to its Co-Impact Sourcing program, highlighting how independent review is being applied across selected botanical supply chains.

The update follows two sourcing-related milestones reached in late 2025. The company joined the Union for Ethical BioTrade, a nonprofit organization that sets standards for ethical sourcing of ingredients derived from biodiversity, and advanced supply-chain verification across multiple botanicals in different regions.

doTERRA said the milestones reflect its effort to move beyond company-described sourcing practices by placing selected elements of its sourcing model under outside review and laying out the model in detail through independent verification processes.

doTERRA’s Co-Impact Sourcing program connects the company with growers and harvesters in more than 40 countries. The company said the program is designed to support community-based suppliers, stable pricing, responsible harvesting practices, and long-term resource availability.

The company has previously pointed to sourcing examples such as vetiver cooperatives in Haiti, where farming practices are intended to help limit topsoil loss, and Douglas fir collection in New Zealand, where an invasive species is collected for use in essential oil production.

In October 2025, doTERRA gained membership in the Union for Ethical BioTrade. According to the company, the membership process included a review of its sourcing systems and the development of a work plan tied to annual reporting on biodiversity, human rights, and benefit-sharing.

“Membership in our vibrant platform means dōTERRA has committed to sourcing with respect, undergone a desktop review of their sourcing systems, and developed a workplan to gradually promote responsible sourcing practices in prioritized botanical supply chains,” said Rik Kutsch Lojenga, Executive Director of the Union for Ethical BioTrade.

The company said the membership adds a governance framework that applies to systems and reporting rather than a single crop or supplier case. The structure also creates a process for continued review over time.

During 2025, doTERRA completed eight supply-chain assessments across five countries. The assessments covered Laurel Leaf and Helichrysum in Albania, Copaiba in Brazil, Rose and Lavender in Bulgaria, Fennel Sweet and Coriander Seed in Moldova, and Eucalyptus Globulus in Rwanda.

According to doTERRA, Rose, Lavender, Coriander Seed, Sweet Fennel, and Helichrysum were verified as responsibly sourced. Laurel Leaf, Eucalyptus Globulus, and Copaiba received improvement work plans intended to support continued progress toward responsible sourcing verification.

doTERRA said it has been reviewing the findings with suppliers as part of annual planning. The company said this process is intended to make verification a continuing supply-chain improvement tool rather than a one-time assessment.

The company also noted that FairWild certification applies to botanicals gathered from the wild rather than farmed crops. FairWild provides standards for traceability, harvest limits, and responsible wild-collection practices for plants gathered in native habitats. doTERRA said it has pursued FairWild certification for relevant parts of its botanical range.

doTERRA’s sourcing work also received outside recognition in 2025. The company won the 2025 SEAL Sustainability Innovation Award for its Tanzanian ginger program, which recognized environmental stewardship and community benefit connected to the crop.

“We’re focused on sourcing the best essential oils while supporting meaningful economic opportunities for farmers and growers,” said Taylor MacKay, Vice President of Global Strategic Sourcing at doTERRA, in remarks reported by Direct Selling News.

The Tanzanian ginger recognition was among 19 honors doTERRA received in 2024 across product quality and sustainability, according to the company. doTERRA serves more than 10 million customers and reported more than $2 billion in annual sales for 2024.

The company has also identified its 2026 verification schedule. Planned assessments include Juniper Berry in Albania, Lemon and Orange in Brazil, Vetiver in Haiti, Bergamot Mint and Castor in India, and Cinnamon Bark and Leaf in Sri Lanka.

doTERRA said the 2026 schedule continues its crop-by-crop approach to reviewing sourcing practices across different regions, supplier structures, and botanical categories.

About doTERRA International LLC

doTERRA International LLC is an essential oils and wellness company with a sourcing model that includes growers and harvesters across more than 40 countries. Through its Co-Impact Sourcing program, the company works with supplier communities on botanical sourcing, supply-chain development, and long-term resource planning.

Media Details

Name: doTERRA International LLC

Website: https://www.doterra.com/

Address: 389 South 1300 West, Pleasant Grove, UT 84606

Email: [email protected]

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NW Immersion Names Cascade Fence & Deck Exclusive Dealer of Signature Saunas Across Washington and Oregon

Vancouver, WANW Immersion has named Cascade Fence & Deck as the exclusive dealer for its Signature Sauna line throughout Washington and Oregon. This strategic partnership brings together two leading Pacific Northwest companies to offer homeowners premium, handcrafted sauna solutions as part of complete outdoor living projects. NW Immersion’s renowned Signature Sauna® line — including the popular […]

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NW Immersion has named Cascade Fence & Deck as the exclusive dealer for its Signature Sauna line throughout Washington and Oregon.

This strategic partnership brings together two leading Pacific Northwest companies to offer homeowners premium, handcrafted sauna solutions as part of complete outdoor living projects. NW Immersion’s renowned Signature Sauna® line — including the popular Loowit, Silver Star, and Cold Creek models — will now be exclusively available through Cascade Fence & Deck in the region.

Loowit Signature Sauna: https://youtu.be/1UqkI1Vpy1g

Silver Star Signature Sauna: https://youtu.be/xXcMkzD0l2A

Cascade Fence & Deck is excited to announce this collaboration, which combines its expertise in high-quality outdoor structures with NW Immersion’s specialized knowledge in wellness products and sauna manufacturing.

“We are thrilled to partner with NW Immersion,” said Leif Wirtanen, President at Cascade Fence & Deck. “Their dedication to meticulously crafted custom saunas perfectly aligns with our values. This partnership allows us to offer our clients a seamless, one-stop solution for fences, decks, patio covers, and now premium Signature Saunas.”

“By entrusting Cascade with customer engagement as the exclusive dealer for our Signature Sauna line in Washington and Oregon, our team can focus entirely on what we do best — handcrafting premium saunas and at-home wellness products, that last. Cascade’s strong regional presence, outstanding reputation, and commitment to exceptional customer service make them the ideal partner for our next phase of growth,” said Eric & Michelle Walker, owners of NW Immersion.

Customers across Washington and Oregon can now work with one trusted local team for all their backyard transformation needs — from custom decks and fences to expertly built patio covers and saunas designed for superior performance and lasting enjoyment.

For more information or to schedule a consultation, contact Cascade Fence & Deck today.

About Cascade Fence & Deck

Cascade Fence & Deck is a leading outdoor living contractor specializing in the professional design and installation of custom fences, decks, patio covers, and saunas. Trusted throughout the Pacific Northwest since 1997, Cascade delivers high-quality craftsmanship and exceptional customer service to homeowners in the Portland Metro area, Southwest Washington, Tacoma, and Olympia. The company is committed to transforming backyards into functional and beautiful outdoor spaces through expert 3D design, transparent processes, and durable construction backed by strong warranties. For more information, visit cascadefenceanddeck.com.

About NW Immersion

NW Immersion is a premier provider of premium saunas, cold plunges, and contrast therapy systems. Based in Vancouver, Washington, the company specializes in handcrafted indoor and outdoor saunas, professional-grade cold plunge tubs, and complete home wellness solutions. NW Immersion is dedicated to helping customers achieve better recovery, performance, and overall well-being through high-quality, durable products backed by exceptional customer support. For more information, visit nwimmersion.com.

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