F/y/i
more chaos at DDEV.
- Charles
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Business Wire November 18, 2000, Saturday HEADLINE: EagleView Technologies, Inc. to Force Shareholder Meeting of Distinctive Devices, Inc. [excerpt]
Michael J. Paolini, President of EagleView Technologies, Inc., the largest shareholder of Distinctive Devices, Inc. ("DDEV.OB") had advised the Board of Directors of DDEV that he would seek a court order compelling a shareholder meeting of DDEV.
Mr. Paolini stated that, as a condition of his resignation as CEO of DDEV, the Board had unanimously approved a shareholder meeting for September 8, 2000. The meeting had been requested in accordance with the by laws of DDEV which provide that a greater than 25% shareholder can request a shareholder meeting. Mr. Paolini further stated that the Board of DDEV has refused to have the approved shareholder meeting and as such is operating against the by-laws of the Company. He also stated that he advised the Board that these facts were missing from the most recent 10Q of DDEV. He further advised the Board of DDEV, that he would be seeking claims against the directors personally for operating the Company in violation of its by-laws with a subsequent deterioration in the price of DDEV stock.
Mr. Paolini said that he was not seeking reinstatement to the Board of DDEV, but that EagleView Technologies, Inc. would vote to approve a slate of directors proposed by Mr. Sanjay Mody, the largest single investor in DDEV. Mr. Paolini stated that he and Mr. Mody have been in continuous discussions for the past several months for several business opportunities that they both felt should be placed under the umbrella of DDEV. |
