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RedHawk joins Beechwood Properties in lawsuit against former executive

RedHawk Holdings Corp. joined Beechwood Properties LLC in a 1995 lawsuit filed in the U.S. District Court for the Eastern District of Louisiana against Daniel Schreiber, a former company executive, and the Schreiber Living Trust.

The lawsuit alleges that the defendants acquired 57,064,608 RedHawk shares through securities fraud. Beechwood is suing the defendants for damages resulting from their breach of contract, unjust enrichment and for Schreiber's breach of his fiduciary duties to RedHawk shareholders, according to a news release.

The plaintiffs are seeking damages, among other things, the return of RedHawk shares owned or acquired, plus proceeds from any sales of the shares.