Paragon Technologies Faces Legal Turmoil Amid Allegations of Concealment and Mismanagement by Board Members

Reuters

May 19, 2025

Paragon Technologies Faces Legal Turmoil Amid Allegations of Concealment and Mismanagement by Board Members

Paragon Technologies Inc. is embroiled in a contentious legal situation, as key information regarding new litigation has reportedly been concealed by the company's board of directors. The board, including Timothy Eriksen, Howard Brownstein, and David Lontini, is accused of prioritizing self-preservation over transparency with stockholders. The litigation in question involves significant legal expenses, with $1.1 million expended in the first quarter of 2025 alone. The Delaware Court of Chancery recently denied the board's request for confidentiality, affirming stockholders' rights to be informed about alleged fabrications of corporate documents. The board is also attempting to sue the company's former legal counsel, attributing previous costly legal actions to faulty legal advice. This move has raised concerns about the board's intentions and commitment to stockholder interests. The unfolding legal drama underscores ongoing tensions and challenges within Paragon Technologies.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Paragon Technologies Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 1029218) on May 19, 2025, and is solely responsible for the information contained therein.

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