"We sweat the small stuff" is our philosophy when it comes to our registered agent services. In other words, while registered agent services seem to be simple and routine, the consequences of making a small mistake can be devastating to our clients. We stress over every minor detail to ensure our clients receive maximum protection.
If CFS acts as your registered agent and is served with legal documents, it is our practice and policy to send the documents to you by email, FedEx and fax, until receipt is confirmed. We explain to our clients that these documents require their immediate attention and identify that there are deadlines associated with them. We will emphasize how critical it is for the CEO, General Counsel and / or other executive officers to be notified by the person confirming receipt.
The recent $1.26 billion default judgment against PepsiCo is a perfect example of how important it is for a registered agent to follow-through until the message is clear to the customer and delivered to the appropriate party.
The PepsiCo matter involved a series of avoidable missteps. These included: (i) confusion surrounding the delivery of documents by the registered agent to its customer; and (ii) once documents were received by an in-house lawyer's administrative assistant, the assistant apparently did not understand the importance of the documents or the associated deadlines, and after receipt she set aside the documents to be attended to at a later date while she helped prepare for a board meeting (and she did not bring the documents to the proper individuals' attention in a timely manner). As a result, PepsiCo and its lawyers failed to attend a court hearing relating to the litigation and a default judgment of $1.26 billion was entered by the judge in favor of the plaintiffs against PepsiCo.
PepsiCo unfortunately suffered public embarrassment, exposure to substantial monetary losses (the default judgment was ultimately set aside) and additional and unnecessary legal fees. CFS will not allow these things to happen to its customers. We understand the importance of our jobs, and that our customers have high expectations for us. We also understand that customers have choices, and we greatly appreciate when we are chosen by companies to serve in this important position. Visit Filings Made Easy or contact us to day for further information.