Rockwell Medical filed a lawsuit in the United States District Court for the Eastern District of Michigan against the company’s former CEO Rob Chioini, former CFO Thomas Klema, board member Ron Boyd and former board member Patrick Bagley.The Lawsuit alleges that Chioini, Klema, Boyd and Bagley have for years mismanaged the company, promoting self-enrichment and poor corporate governance at the expense of Rockwell Medical’s shareholders, employees and patients in need of the Company’s life-changing drug, Triferic. Their recent continued attempts to paralyze the Board’s and the Company’s ability to operate follows a long-line of wrongful acts that are outlined in the Lawsuit. In addition, the Lawsuit outlines the timing and rationale for the Board’s decision to terminate Chioini and Klema. Ben Wolin, Chairman of the Board, said, “Importantly, the five independent directors of the Board are continuing to make progress on the significant efforts underway to put the company on stable footing, including identifying and hiring a new CEO and CFO, engaging a new audit firm and implementing our new Triferic commercialization strategy.” Mr. Wolin added, “We recognize how both upsetting and confusing these events resulting from the harmful actions taken by Chioini, Klema, Boyd and Bagley must be for our investors. We will continue to vigorously defend the Company and take actions that are in the best interest of the Company and all our stakeholders.”
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.