Shareholders Bill Siegel and Sim Israeloff obtained a Judgment in favor of our client – health and beverage company – against certain of the Defendants on the basis of an earlier Order of Sanctions. This is the second Judgment recovered for the client in the same case.
Our client sued its former CEO for fraud, conversion, and other actions dating back to 2013 – including the issuance of an unauthorized Employment Agreement under the forged signature of a company board member. The former CEO used the Employment Agreement to issue himself 10 million shares of preferred stock in the company, which were placed in a Trust whose trustee was his daughter. Last year the Court entered Judgment against the former CEO. On February 4, 2019, Judgment was entered against certain other parties who participated in the former CEO’s wrongdoing and who claimed ownership and voting rights under the unauthorized preferred shares.
