Money DavidsTea founder sued by shareholders

01:55  01 august  2018
01:55  01 august  2018 Source:   msn.com

Papa John's attempts to ward off founder with poison pill

  Papa John's attempts to ward off founder with poison pill Papa John's attempts to ward off founder with poison pillLoad Error

The founder of DavidsTea Inc. is being sued by company shareholders seeking to have Herschel Segal removed as executive chairman and the election of a new board of directors.

Important message to shareholders . Dear DAVIDsTEA shareholder This is something we – the DAVIDsTEA Board of Directors, management, as well as co- founder and dissident shareholder , Herschel Segal – all agree on.

MONTREAL - The founder of DavidsTea Inc. is being sued by company shareholders seeking to have Herschel Segal removed as executive chairman and the election of a new board of directors.

Three Highland Limited partnerships which together own 12.8 per cent of the Montreal-based beverage retailer's shares filed suit in Quebec Superior Court against Segal and his investment firm Rainy Day Investments.

Rainy Day Investments owns 46.4 per cent of DavidsTea shares.

DavidsTea says the lawsuit is without merit and contains old, baseless allegations.

Segal says in a statement that DavidsTea won't be distracted by efforts to turn around the struggling retailer.

Clint Eastwood Sues Claiming He Was Swindled Out of Medical Patents

  Clint Eastwood Sues Claiming He Was Swindled Out of Medical Patents The famed filmmaker says he's undertaken herculean efforts to obtain information about his investment into a company researching a diabetes drug.On Tuesday, Eastwood went to court with the kind of production that one would hardly expect from him. According to the complaint, he's long been investing in the work of Dr. Harry Demopoulos, who before dying last year had tiny roles in movies plus was a medical researcher credited with inventing the field of free radical pathology. Dr. Demopoulos devoted much of his work to the research and development of glutathione, a supplement said to boost the immune system.

DAVIDsTEA Announces Election of New Board of Directors at Annual MeetingMONTREAL, June 14, 2018 (GLOBE NEWSWIRE) -- DAVIDsTEA Inc. (Nasdaq:DTEA) announces that at its annual meeting held today in Montreal, shareholders elected a Board of Directors comprised of the seven persons

Important message to shareholders . Dear DAVIDsTEA shareholder This is something we – the DAVIDsTEA Board of Directors, management, as well as co- founder and dissident shareholder , Herschel Segal – all agree on.

The company, which is not named as a defendant, says it will defend against efforts that affect the election of directors or appointment of management.

It says the new lawsuit seemingly replaces a similar motion filed before the June annual meeting that was later withdrawn.

a group of people posing for the camera© Provided by thecanadianpress.com

A slate of Rainy Day nominees were elected to the board and that resulted in the resignation of CEO Joel Silver, but two of those directors also later resigned.

Segal has pledged that the chain of tea shops will become profitable within a year and focus on its Canadian roots.

CM Punk being sued by podcast host over legal bills .
CM Punk and Colt Cabana were on the same side defending themselves in a defamation lawsuit just months ago, and now they are set to square off against each other in a different lawsuit. Punk (real name Phil Brooks) is being sued by his former friend, Cabana (real name Scott Colton), over legal bills amassed defending themselves in their previous case. Back in Nov. 2014, Punk joined Cabana’s “The Art of Wrestling” podcast and ripped the WWE in somewhat of a tell-all. Punk, who was one of the organization’s most popular wrestlers, had left the WWE in January and that was his first interview on the subject.

—   Share news in the SOC. Networks
This is interesting!