Turbodyne Technologies Inc. (TRBDF) Message Board

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Technology Stocks : Turbodyne Technologies Inc. (TRBDF)

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To: ChainSaw who started this subject	3/9/2001 10:35:01 PM
From: current trend	of 3458

Turbodyne scandal? "Market value of the company deliberately destroyed" Offenbach Post Article which appeared this morning..... Most of the majority German shareholders of the HighTech-Company Turbodyne see themselves bounced - Turbodyne is a cooperation partner of the Honeywell company. Now the CEO of the autoparts manufacturer, Rainer M. Wollny, drives heavy cannons against members of the " board " (more comparably the supervisory board in Germany). " The market value of the company was deliberately destroyed. " Together with other Turbodyne managers and shareholders, Wollny submitted lawsuits with the court in Santa Barbara against "Board"-members of the US company. Today the lawsuits were formally filed. Among other things members of the board are responsible for the long term degration of the company's share price . The share price fell in August 2000 from below two Euro to a low of 0.07 Euro, after the paper was suspended from trading at the stock exchange " Easdaq ". Reason for the measure: Certain members of the board are alledged to have diluted the number of shares in the year 1999 against the rules of the supervision by the stock exchange committee (SEC) . Although the board members were told in January 2000 of the irregularities referred to in the lawsuit, Wollny said no wrongdoing were acknowledged at that time. Further charges against the certain board members: The Pacific Baja aluminum factory in Mexico was bought 1996 at superelevated prices. Wollny puts the numbers of the total damage to close to 200 million U.S. dollars. " Some Board members are alleged have interest only to drive the company against the wall in order to maliciously improve their own personal holdings", said a long term shareholder who wished to remain unknown. Furthermore, wrongful representation is alleged to have been disclosed assumes that they want to use or sell the technology for the reduction of exhaust gas itself. Because the power enhancement benefits are significant, the technology was falsely marketed. " Gentlemen, let's hope justice will prevail. ragingbull.lycos.com CT

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