Thanks. Had never heard of them. Interesting chart and story playing out. Have you followed them long enough to give a Cliff Notes version of what happened?
finance.yahoo.com
Greens Worldwide Incorporated Files Suit Against Former Officers and Other Defendants
Tuesday February 19, 5:00 am ET
ORLANDO, Fla., Feb. 19 /PRNewswire-FirstCall/ -- Greens Worldwide Incorporated (Pink Sheets: GRWW - News) announces that it, together with its wholly owned subsidiary, American Challenge Golf Tour, Inc., has filed a lawsuit in the Circuit Court of the Ninth Judicial District in and for Orange County, Florida, against the following defendants: Ron Beaman, former President of the American Challenge Golf Tour, Inc., a wholly owned subsidiary of Greens Worldwide; William Conwell, former CEO of Greens Worldwide; and Roy Watson, the former CFO of Greens Worldwide, International Players Tour and AREN, LLC. The complaint alleges conversion and breach of fiduciary duty against defendants Beaman and Conwell, and breach of fiduciary duty against defendant Watson. The complaint further alleges conspiracy on the part of defendants International Players Tour and AREN, LLC.
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"When I returned last August as CEO, one of my stated objectives was to pursue the recovery of assets of the Company where appropriate, which, when realized, will contribute to re-building value for our shareholders, and this is the first step toward that particular objective," stated R. Thomas Kidd, CEO, Greens Worldwide. |
