Powermatic Data Systems (SGX:BCY) received a letter of demand from the lawyers of former chief executive officer, Jason Tao Ping, over a claim of 89,928 restricted stock unit shares following his termination, according to a Friday filing with the Singapore Exchange.
The shares arose from his termination, which became effective on June 30.
The company is assessing the claim and will release a statement once there are material developments.
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