trending Market Intelligence /marketintelligence/en/news-insights/trending/mewhoaczqid7hegcandncq2 content esgSubNav
In This List

DLT Resolution minority shareholder files claim for alleged contract breach

Blog

Baird Research is Now Exclusively Available in S&P Global’s Aftermarket Research Collection

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity


DLT Resolution minority shareholder files claim for alleged contract breach

DLT Resolution Inc. said a minority shareholder and former officer of its unit A.J.D. Data Services Ltd. is seeking C$650,000 from the company for several allegations, including wrongful dismissal and breach of contract.

In a Sept. 7 filing with the U.S. SEC, DLT said it received a statement of claim from the shareholder — whose name was not disclosed — for allegations of wrongful dismissal, breach of contract, repudiation, lost benefits, lost opportunities for advancement, out-of-pocket costs, statuary minimum notice entitlements and representing pay in lieu of notice, benefits, as well as special damages for out-of-pocket and other costs.

The healthcare technology company said its management believes that the claim, which was served on Aug. 4, is "frivolous and without merit." The company is retaining counsel and will counterclaim for damages.