![]() The complaint alleges breach of fiduciary duties, unjust enrichment, gross mismanagement, abuse of control, insider selling and misappropriation of information in connection with the Company's alleged retention of DreamTeamGroup and MissionIR, two external investor and public relations firms unaffiliated with the Company, as well as the Company’s Decemgrant of stock options to certain board members and officers. This amount was paid by our insurance carriers in December, 2015. On November 20, 2015, the Delaware Court approved the settlement and award of attorneys' fees and expenses, and entered a final order and judgment. The parties reached an agreement on an award of $1.1 million of fees and expenses to plaintiffs' attorneys. ![]() ![]() The settlement also provides that we will implement certain corporate governance changes and modify our governance practices regarding the granting of stock options. Settlement: Under the settlement, we agreed to re-price outstanding stock options to purchase a total of 2,095,000 shares of our common stock that were granted on Decemto certain of our directors and officers from the original exercise price of $2.39 to an exercise price of $4.66 (the share price at market closing on December 20, 2013). July 3rd and June 14th Cases consolidated into Case: CytRx Corp. The allegations in the Silverberg complaint relate to the Company’s Decemgrant of stock options to certain board members and officers as well as the Company’s alleged retention of DreamTeamGroup and MissionIR The complaint alleges breach of fiduciary duties, corporate waste, gross mismanagement, and unjust enrichment in connection with the Company's alleged retention of DreamTeamGroup and MissionIRĬase No. Kriegsman’s insider trading is suspicious because it was dramatically inconsistent with his prior trading practices.Īgainst nominal defendant CytRx and certain officers and each director of the Company. These insider sales constituted 100% of all Authentidate shares that Kriegsman owned. During the Class Period, Kriegsman sold 20,000 and 10,000 shares of his Authentidate stock on Decemand on February 17, 2004, respectively, and realized proceeds of $246,773. During the Class Period, Kriegsman signed the FebruRegistration Statement, which contained untrue statements of material fact and incorporated by reference subsequent Authentidate SEC filings containing many of the materially false and misleading statements and/or omissions of material fact alleged herein. Kriegsman ("Kriegsman") was a Director of Authentidate from 1997 until March 2004. The fear of OTC is outweighed by the Fear of giving him a clean slate to repeat the same path.ġ/3/05 IN RE AUTHENTIDATE HOLDING CORP. We need to vote NO to the RS until Kriegsman Steps down.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |