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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: siempre who wrote (26539)	1/7/2004 6:20:16 PM
From: Proud Deplorable	Read Replies (2) \| Respond to of 39344

Northcotts sue Northcott A $30 million lawsuit has been filed against Northcott Gold Inc. by a group including a former president of the company claiming they were entitled to certain shares that were issued prior to a special shareholder meeting earlier this year. Northcott said a statement of claim was filed with the Ontario Superior Court in North Bay by former president Robert Norcott, Joan Norcott, William Norcott and 1326725 Ontario Ltd. "The plaintiffs also claim that the directors breached their fiduciary duties in authorizing the issuance of common shares of the corporation in a recent private placement at an artificially low price resulting in dilution of the corporation's share capital," the company said in a release. The company and its directors said they deny the allegations and intend to vigorously defend the lawsuit. The move by the shareholders followed a March 21 letter from the Ontario Finance Ministry notifying the company directors that the company owes the province corporate taxes. ----------- anything to this?