old news ;-(
2008 > Aug > 15
DNC Tech's CEO Robert Lott and members of the board allegedly violated multiple securities laws and violated the fiduciary responsibility of the shareholders
United States of America (Press Release) August 15, 2008 -- A major shareholder in DCNM.PK (DnC Tech) alleged that the CEO, Robert Lott and the Board of Directors have engaged in a series of securities violations since they were appointed. Mr. Lott has refused to comment on the situation and according to shareholders has not returned calls or communicated with the shareholders in over six months.
Mr. Lott and members of the Board including Chris Piercy, Hanseo Park, Robert Lau violated fiduciary responsibility on multiple occasions, according to the shareholder. They failed to notify the shareholders of the company's default on its financing for several months. Many material misstatements and untruths were fed to the shareholders in an attempt to pump the stock.
Additonally, Mr. Lott allegedly engaged in a conspiratorial plan with Trafalagar to give them securitization of the company's assets in return for nothing that would provide value to the shareholders.
Mr. Lott has been hiding from the shareholders for nearly six months now and has been unable to be reached for comment.
AI
