TK in another situation where they caused damage to a company:
From ECNC 10Q filing:
ITEM 1. LEGAL PROCEEDINGS.
On August 19, 1999, counsel for Thomson Kernaghan, a Canadian investment firm ("TK"), threatened to file suit against the Company in connection with TK providing certain funds to the Company in the amount of $500,000. The Company has indicated to this counsel that based on the actions of TK in this matter, the Company is not now indebted to TK in any amount since TK has caused damage to the Company and its shareholders well in excess of any amount allegedly owed by the Company to TK. On November 15, 1999, the Company was served with a complaint in this matter seeking damages in the amount of $1,233,889, as well as an application for various orders. The Company intends to vigorously defend such action and to pursue applicable counterclaims. Management is studying this matter, and does not have an opinion on the outcome of the litigation. |
