Adherium (ASX:ADR) said that former Chief Executive Paul Mastoridis filed a lawsuit in the New Jersey court over the company's alleged violation of the Conscientious Employee Protection Act, according to a March 7 filing with the Australian bourse.
In October 2024, Adherium said it was unable to reach an agreement with Mastoridis to extend his tenure as CEO and that his employment would end on Jan. 7.
The company denied the claims and intends to continue to contest them, per the filing.
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