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Ciscom Corp
Symbol CISC
Shares Issued 51,563,831
Close 2024-03-05 C$ 0.095
Market Cap C$ 4,898,564
Recent Sedar Documents

Ciscom ex-CEO increases wrongful dismissal claim to $3M

2024-03-06 15:28 ET - News Release

Mr. Drew Reid reports

EX-CISCOM EXECUTIVE CHAIRMAN FILES $3 MILLION LAWSUIT AGAINST CISCOM CORP & ITS BOARD OF DIRECTORS

Former Ciscom Corp. executive chairman and chief executive officer Drew Reid's legal counsel, Hummingbird Lawyers LLP, has filed an amended statement of claim with the Superior Court of Ontario, increasing the claim damages to $3-million against Ciscom, Prospect Media Group Ltd., the individual members of the company's board of directors and associated parties-consultants.

The original statement of claim for wrongful dismissal has now been amended to include increased substantial damages against the companies, the included board members and associated parties-consultants for evidenced written and verbal derogatory statements, defamation, libel and slander, where board members Michel Pepin, president and chief financial officer, Paul Gaynor, chairman, Eric Klein, Dave Mathews, Tracy Weslosky, Julia Robinson, Josh Howard and associated parties-consultants Peter Clausi (CBLT) have engaged in and fully supported (as a board and associated group) a campaign of dishonesty, malicious oppressive activity, subverting corporate governance, conduct unbecoming, breach of professionalism, breach of the privacy act and breach of their fiduciary duties as officers and directors of Ciscom, with specific intent to inflict personal harm and damages on the plaintiff.

The board members and associated parties-consultants have demonstrated numerous egregious violations of confidentiality, ethics, malicious, high-handed and oppressive conduct detrimental to Mr. Reid and Ciscom shareholders' interest. Hummingbird Lawyers has been instructed to seek summary judgment against the defendants.

We seek Safe Harbor.

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