Thursday, May 24, 2018

Adara Networks sued over loan

Update (5/25/18): This case was dismissed without prejudice yesterday by Mr. Gray a few hours after this post was published. 

A lawsuit in Madison County Circuit Court claims Adara Networks, Inc., defaulted on a $1.5 million loan from Robert "Bobby" Gray.  Adara Networks is a California information technology company.   Mr. Gray sued Adara on March 8 to collect the alleged debt and accumulated interest.
Mr. Gray states that he loaned $1.5 million to Adara Networks, Inc., on July 29, 2014.  Repayment of the loan  and interest of 10% was due a year later.  Mr. Gray extended the term for another year and extended it again to January 29, 2016.  The complaint claims Adara defaulted on the note and owes a principal amount of $1.5 million and accrued interest of $581,282 as of December 31, 2017.   The agreement states Mr. Gray was given an option to purchase 150,000 shares of Adara common stock. 

A promissory note is attached to the complaint as an exhibit.  The case is assigned to Judge John Emfinger.  Attorney Marc Brand represents Mr. Gray.

Adara and its CEO, Eric Johnson, are defendants in a separate lawsuit in Hinds County Chancery Court.  JJ reported yesterday that attorney Shane Langston sued for an accounting of Adara's finances.   Several prominent Jackson attorneys invested millions of dollars in Adara.  Mr. Langston said he invested $750,000 in the company and had been trying to see Adara's financial statements for many years but to no avail.  Earlier post and copy of lawsuit. 





35 comments:

Anonymous said...

Is this the Gray-Daniels guy?

Asking for a friend.

Anonymous said...

A hunnerd dollahs says we can beat yo bes deel, REEEEEEEEEEEEE Gahdluss.

Anonymous said...

Fooling Shane Langston is one thing -- he's never done anything but sued companies in front of juries who viewed large verdicts as a redistribution opportunity. Fooling Bobby Gray is an entirely different thing.

Anonymous said...

Next--

Anonymous said...


I can not understand people lending or investing money in companies without having a CPA look into everything. I personally would not invest one dime in anything, anything. People can not be trusted, I even question how much money I should put in the banks. The world today is not what it use to be. Keep your money where you can get your hands on it quickly--Safety Deposit Box or even a CD.

Bobby, you are a lot smarter than that...can't believe you loaned anyone money !!!

Anonymous said...

It's time to invest in popcorn futures.

Anonymous said...

So putting money in a safety drop. box or CD isn’t putting it in a bank you don’t trust??

Anonymous said...

These investors are not doing homework for there are looking for a shady deal to start with. Hard to cheat an honest man.

Anonymous said...

Wasn't there also a little "dummy" involved?

Anonymous said...

I can tell you a few things about Bobby Gray. He’s an honest man! For all you people that want to put him down, you have no idea who he is. He’s a man of integrity and he’s extremely intelligent. He is a man of character and he does his homework. He doesn’t and wouldn’t look for shady deal. He’s a self made man that is extremely successful that has worked his ass off! He’s the victim. So for all you haters, maybe you should do your homework. Why do people have to be so mean and degrading?

Anonymous said...

TO 10;52 AM......... WOW IF it were just that easy why isn't every lawyer in the state a gazillionaire? go back home to your momma with your pathetic fairy tales.

Anonymous said...

2:31 - because, believe it or not, there are some folks who are also lawyers that have some scruples about themselves. And their profession. They are not willing to bribe judges, or file cases in an attempt to get judges to recuse so they could get the jurisdiction of their preference, or get take advantage of venue preferences that have nothing to do with their cases, but want to practice the profession as it is intended to be. Some folks are more interested in having some integrity about themselves, not just becoming the gazillionaire your fairy tale wet dreams hope for in your life.

Anonymous said...

1:45 is absolutely correct. Eric Johnson has picked a fight with the wrong guy. Not only does Bobby Gray have the resources to finish this fight he has the resolve to finish the fight. Bobby has no problem exposing Adara for what it really is. Eric Johnson had better fasten his seat belt it's gonna be a long, bumpy ride!

Anonymous said...

I would like to know when and/or if Ken Primos knew this was a scam. I might be lawyering up if I were he.

Anonymous said...

This deal makes even less sense than the timber deals. Who was the middleman peddling this? If a California tech company was viable they would have hundreds of choices of where to get money in California and would have no possible reason to be borrowing the money from an individual in Mississippi.

Anonymous said...

You might want to check the docket sheet. This case has been dismissed.

Anonymous said...

I don't have 1.5M laying around so promissory notes of that size are a foreign concept to me. For anyone that has experience in such notes, is it common for them to be in a fill in the blank form? If I was a potential investor that would give me the impression they hand these things out so frequently that they don't have time to type.

Anonymous said...

To the dummy's posting about the car commercials, that was his partner Noel Daniels that did most of the speaking and ventriloquist stuff. They both did very well selling their little car lot and both are good successful people.

Anonymous said...

to 2:57pm.... "judicial bribery" pretty beefy allegation. tell me , have you reported you vast knowledge of judicial bribery to the feds or any other law enforcement authorities?

Anonymous said...

@ 6:28 PM, Adara Networks is not viable. That's what is so odd about all of this.

Anonymous said...

May 25, 2018 at 7:16 AM said "might want to check the docket sheet. This case has been dismissed."


7:16 AM can you be more specific?

With or without prejudice?

Lack of subject matter jurisdiction?

Improper venue?

Failure to state a claim?


All questions asked for a friend.

2:57 said...

8:59 - yes, I can be more specific. Start with Judge Henry Lackey and the offer of a bag of "sweet potatoes" - remember that one? Or, Judge Delaughter's purchase by the former Hinds DA via the same bunch of lawyers - I'm sure you remember that case. As to cases not ever prosecuted but bragged about, might want to go back and read Barrister Dickie Scruggs' talk given in NYC about how the verdicts were bought before the jury was ever empaneled, referencing mostly the judicial hotbed (or hellhole, depending on your point of view) of Jefferson County, MS.

Need I go on, or does this answer your inquiry?

Anonymous said...

One seeking an explanation for the suit's dismissal without prejudice (in this case the legal equivalent of saying, "my bad; never mind") may want to take a look at paragraph 6, subsection (g) of the Promissory Note.

Anonymous said...

Odd. Stipulation of dismissal filed w/o prejudice, case closed and now apparently sealed even though no motion to seal is on the docket sheet.

Anonymous said...

i don't think Mr. Gray would have allowed the suit to be dismissed without receiving repayment of his loan. I wonder if Adara paid up??????

Anonymous said...

“Update (5/25/18): This case was dismissed without prejudice yesterday by Mr. Gray a few hours after this post was published.”


My, my, my...with names like Primos & Crymes Pittman on the front end of this deal, one can only imagine what all is going on behind the scenes right now.

Recon ole Bobby found him a chair before the music stops?

If there is such a thing as a “good journalist” anymore, this little deal right here might just be your chance.


P. S. And 8:59 AM, if you’re an attorney offended by 2:57, you might just want to back off since the “Mississippi Legal System is Corrupt” case has already been tried.

Kingfish said...

It's not sealed. You can't check collection cases in MEC. have to go to courthouse. same for dee-vorces.

Anonymous said...

to 10;40am,,"need i go on"..... yes, by all means tell us about judicial bribery going on here and now rather than ancient history.

Anonymous said...

to may 25 @2:31........tell us more about "mississippi legal system is corrupt case"..............some of us cotten choppers aren't familiar with that one.

Anonymous said...

7:27 and 8:16 - Ancient history? The comment was made regarding those who practice the profession of law. A large majority of those practicing today were practicing at the time those judicial issues occurred - within the past decade.

If you want to go back into ancient history, lets go back into the days before the jury wheel, or if one believes that timely filing today is no longer done in order to obtain the desired judge we could examine that process as well. Or do you want to believe all those verdicts out of the piney woods area are clean and without question? How about the so-called silica cases that were finally kicked out based on the fine testimony from bought doctors that was allowed in the many plantiff's cases and their massive judgments - until a Texas Judge put a stop to that scam.

As I said in my comment, many good attorneys are in it as an honorable profession. But those that are still today employing runners to gather clients (yes, I know that is illegal, but would you like a list of available runners that make a fine living just as the bootleggers made a good living operating in an illegal activity.)

Thanks for your input defending your obvious occupation. Wonder which side of the bar you are on.

Anonymous said...

to 2:51pm......... lets see your list of runners. come on, name some names.

Anonymous said...

Can't name them here because KF won't approve post. Something about libel suits that some lawyers like to file. But if you are looking for some to hire for your firm, I can direct you to a few. Sat in a condo on the coast a few years,ago and listened to one famous one - former member of the SDC in SW MS, explain about his work on the coast and the numerous folks working for him. Another list came out in a recent federal court case so they might be out of the market and unavailable for your employ now.

If you want to continue the charade tgat the profession is as pure as driven snow, continue on. You will be part of the problem that exists in the MS Bar that doesn't want to deal with unscrupulous members (unscrupulous is too nice a word for some - such as the convicted felons, but conviction no thanks to the MS Bar that just prior to their day in court on the other side of the desk were being hailed by their fellow barristers.

Anonymous said...

to 10;55 am holy cow ... with that much knowledge of dirty deals you should be able to land a job with the state or federal authorities as a professional rat-snitch. tell all us cotton choppers why you are not sitting down with the authorities and ratting everybody out.

Anonymous said...

What's the worry 5:09? Afraid you might be on thst list?

Anonymous said...

to 10:09 am ......im not on anyones list. 10:55 is chicken manure who engages in the national pastime of this country which is making wild ass allegations against others with no proof.

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