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Latest Financial News for Forward Industries, Inc.
Last feed update: Thursday July 31st, 2014 05:26:07 PM
Forward Industries Files Lawsuit Against Terence Wise and Jenny Yu Seeking Declaratory and Injunctive Relief and Alleging Violations of U.S. Securities LawsTuesday July 22nd, 2014 08:25:00 PM
[PR Newswire] - WEST PALM BEACH, Fla., July 22, 2014 /PRNewswire/ -- Forward Industries, Inc. (FORD), a designer and distributor of custom carry and protective solutions, announced today that it has filed a lawsuit in the U.S. District Court for the Southern District of New York against Terence Bernard Wise, a director of Forward, and his long-time business partner, Jenny P. Yu, alleging multiple violations of federal securities laws, including the filing of deceptive and deficient Schedules 13D and proxy solicitation materials with the Securities and Exchange Commission ("SEC"). In its complaint, Forward alleges that Mr. Wise and Ms. Yu have been acting as an undisclosed "group" in connection with their involvement in Mr. Wise's bid to replace the Board of Directors of Forward (the "Board") with his hand-picked designees. The suit alleges, among other things, that: Mr. Wise and Ms. Yu each violated Section 13(d) of the Securities Exchange Act of 1934 (the "Exchange Act") by improperly failing to report their beneficial ownership of Forward stock and plans and activities as a "group" in their respective Schedule 13D filings;
Terence Bernard Wise Files Derivative Suit Against Forward Industries' Chairman Frank LaGrange Johnson for Breach of Fiduciary Duty and to Prevent Dilutive Stock IssuanceThursday July 17th, 2014 07:57:00 PM
[Business Wire] - On July 15, 2014, Terence Bernard Wise filed a derivative suit on behalf of Forward Industries, Inc. in the Supreme Court of the State of New York against Chairman Frank LaGrange Johnson and affiliated members of Forward's Board of Directors to prevent a dilutive stock issuance and other entrenchment tactics that he believes are aimed at disenfranchising shareholders in advance of Forward's 2014 Annual ...
[PR Newswire] - WEST PALM BEACH, Fla., June 13, 2014 /PRNewswire/ -- Forward Industries, Inc. (FORD), a designer and distributor of custom carry and protective solutions, commented today on the announcement by Terence Wise, a director of Forward Industries, of his intention to nominate himself and three other hand-picked individuals for election as directors at the 2014 Annual Meeting of Shareholders of the Company (the "Annual Meeting"). Mr. Wise has published his nomination letter to the Board of Directors of the Company in which he raises a number of purported reasons for submitting his nomination. However, Mr. Wise's past conduct may demonstrate his true intentions: Director Wise expresses his "significant disappointment with the Company's chronic underperformance". Forward Industries today is not at all a chronic underperformer, but a profitable consumer business with over $30 million in annual sales and significant market share in its core diabetic market.
FORWARD INDUSTRIES INC Files SEC form 8-K, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, FinancialWednesday May 28th, 2014 09:00:05 PM
FORWARD INDUSTRIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Change in Directors or PrinFriday May 16th, 2014 08:30:29 PM
[GlobeNewswire] - WEST PALM BEACH, Fla. -- Forward Industries, Inc. , a designer and distributor of custom carry and protective solutions, today announced financial results for its second fiscal quarter ended March 31, ...
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