The Superior Court confirms that the directors of the Company have accomplished their duty with honesty and competency
Shares Outstanding: 20,749,810
LONGUEUIL, QC, April 21 /CNW Telbec/ - In a judgment rendered April 15 2010, Quebec Superior Court has dismissed all of Karol Brassard's allegations and claims made in a lawsuit for oppressive behavior against Clemex Technologies Inc. and its Directors filed August 6, 2008.
In addition to dismissing all of the Plaintiff's claims, the Court condemned Mr. Brassard to pay a total sum of $115,000 in damages to the Company's Directors, including to Clemex's CEO and founder, Mr. Clement Forget, for libel and damages to their reputation. According to the Court, a Press Release issued by Karol Brassard August 7th 2008 contained wrongful and libelous allegations with regard to Mr. Forget and Clemex's Directors.
The Plaintiff, in its lawsuit, claimed that Mr. Forget and the Directors had committed several errors and misconduct with respect to their duties as members of the Independent Strategic Orientation Committee created in January 2008 and again during the study and completion of a Private Placement in July 2008.
In its decision concerning the matters submitted to its attention, the Court believes that the Directors of the Company have accomplished their duty with Honesty and Competency with a unique goal of protecting long term interests of the Company.
The Superior Court judgment was rendered following a hearing held between March 22 and April 1, 2010.
Lisane Dostie, LLB, Chairperson of the Board declared: "The Quebec Superior Court has clearly confirmed the legitimacy of our position and actions all along in this matter. However, and most importantly for Clemex, its Directors and Management, this decision enables us to turn this page over and to now concentrate all efforts and energies in building a solid future for the Company." She continued: "Clemex has an excellent and outstanding technology, a wide and diversified list of first class customers, an excellent reputation and most of all very competent and loyal employees. Thus, we need to build on these solid grounds to guarantee the growth and success of the Company."
About Clemex Technologies, Inc.
Clemex Technologies Inc. develops, manufactures and markets image analysis systems and software used by quality control and research microscopy laboratories. Clemex customer base spans over many countries in America, Europe, Asia and encompasses major Research and Development Centers, prestigious Universities and large manufacturing industries in various fields including Healthcare, Automotive, Aerospace, Raw Materials Manufacturing, Pharmaceuticals, Mining and other sectors.
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SOURCE Clemex Technologies Inc.
For further information: For further information: Frédéric Tremblay, Clemex Technologies Inc, (514) 844-6665, ext: 231