12:48:51 EDT Tue 16 Apr 2024
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or Name
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Viridis Energy Inc
Symbol VRD
Shares Issued 41,277,911
Close 2011-09-13 C$ 0.18
Market Cap C$ 7,430,024
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Viridis countersues Gardner for breach of duty

2011-09-15 14:48 ET - Street Wire

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by Mike Caswell

Viridis Energy Inc. has filed a countersuit in the Supreme Court of British Columbia against its former chairman, Robert Gardner, for breach of duty. Viridis claims that he caused the company to incur excessive fees and, after he was dismissed as chairman, he told creditors that the company suffered from mismanagement. The company seeks damages for defamation, among other things.

The counterclaim comes as part of the company's response to a brief suit that Mr. Gardner filed against it over unpaid director fees. He claimed that Viridis owed him money for service as a director, plus expenses. He said that he invoiced the company for $87,414, but only received $29,325 in payments. He sought a court order for the remaining $58,089, plus interest and costs. Vancouver lawyer John Shields filed the suit on behalf of Mr. Gardner.

Viridis's response and counterclaim

Viridis, in a response to Mr. Gardner's suit filed on Friday, Sept. 9, says it owes him nothing. The company claims that he unilaterally increased his monthly director fee from $8,000 to $14,000, and that he breached his duties as a director.

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