Promega case continues
As the lawsuit continues between disgruntled Promega Corp. shareholders and company CEO Bill Linton. The shareholders — Nathan Brand, Ted Kellner, and Paul Shain —are asking that Linton’s counterclaims be dismissed, according to the Wisconsin State Journal.
Brand and Kellner filed a suit against Linton in July 2016, claiming his tactics have kept them from getting a fair return on investment.
Linton charges that the shareholders were coercing the company into buying back their shares of Promega stock at “exhorbitant” prices, looked to replace Linton with Shain and then sell the company. Shain is the president/CEO and founder of Singlewire in Madison.
Responding that Linton’s counterclaim is false and without merit, Shain’s attorneys have asked that it be thrown out. No trial date has been set.