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Did Control4 Just Try to End-Run Multiple Shareholder Lawsuits?

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Photo of Martin Plaehn, CEO of Control4

As Strata-gee recently reported, there are currently seven active lawsuits that have been filed against Control4 and their Board of Directors in the wake of their acquisition by SnapAV. In a new DEFA14A filing with the Securities and Exchange Commission last Friday, the company addresses the issue of these lawsuits – saying that they are going to fight them. But then they do something very curious – they file an amendment to their original Schedule 14A filing, their Proxy Statement, with added information that appears to add missing material in response to allegations in the lawsuits filed against them.

Is Control4 trying to end-run the litigation just days before shareholders vote? See more below…

[Read more…] about Did Control4 Just Try to End-Run Multiple Shareholder Lawsuits?

Department of Justice Says It Will Not Charge Nortek in Bribery Scandal

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SEC Forces Nortek to Forfeit Profits Resulting from the Bribe

Nortek LogoThe Department of Justice (D.O.J.) has notified Nortek, Inc. that it has closed its investigation into a corporate bribery scandal involving the company’s operations in China and will take no further actions, according to a report by Reuters. Nortek, parent company of Core Brands – a holding company of several custom integration brands – had revealed the existence an internal investigation into the matter by the company to investors several quarters ago. At the same time, Nortek reported the matter to the authorities, noting that they would fully cooperate with any government investigation.

Nortek “will not be charged because the U.S. [company] had turned themselves in,” Reuters noted. Nortek stock was up 5.19% in late afternoon trading on the news.

See more on why the D.O.J. decided to not charge Nortek… [Read more…] about Department of Justice Says It Will Not Charge Nortek in Bribery Scandal