18:01:09 EDT Thu 30 Mar 2023
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Copper Mountain Mining Corp
Symbol CMMC
Shares Issued 210,363,573
Close 2023-02-03 C$ 2.16
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Copper Mountain wins legal victory against ex-CFO Shier

2023-02-03 20:48 ET - Street Wire

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by Mike Caswell

A judge in the Supreme Court of British Columbia has set aside a garnishing order against Copper Mountain Mining Corp. that had tied up $1.57-million of the company's money. The order came as part of a wrongful dismissal lawsuit brought by Copper Mountain's former chief financial officer, Rodney Shier. He claims that Copper Mountain owes him the money after firing him from his $435,160-per-year job for no good reason.

The garnishing order was set aside in a decision released on Thursday, Feb. 2. The judge has directed that the court return $1.57-million to Copper Mountain, and has ordered Mr. Shier to pay the legal costs the company incurred in having the garnishing order overturned. While the ruling is a defeat for Mr. Shier, it is not the final word in the case, as the only issue the judge ruled on was the garnishing order.

The decision comes a little over four months after Mr. Shier sued Copper Mountain, filing a notice of claim on Sept. 22, 2022, at the Vancouver courthouse. Mr. Shier, who had helped form Copper Mountain in 2006, complained that the company dismissed him over minor trouble with insider trading reports. He had inadvertently failed to report some of his trades, and brought them up to date after being contacted by the B.C. Securities Commission, the suit stated.

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