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Shareholders Suing Majesco

by Rainier on March 28, 2006 @ 3:47 a.m. PST

In a filing with the SEC, it was revealed that the Trinad Group wants to buy more shares in Majesco, and requests that two of its officers (Jessie and Joey Sutton) immediately resign or be removed from office. The filing also mentions that the Trinad Group is filing a lawsuit against the company and several current and former directors and officers for breaching their fiduciary duties while managing business affairs, engaged in self-dealing transactions to further their personal interests, usurped corporate opportunities, mismanaged and wasted the company's assets and used poor judgment in appointing certain officers.
In a filing with the SEC, it was revealed that the Trinad Group wants to buy more shares in Majesco, and requests that two of its officers (Jessie and Joey Sutton) immediately resign or be removed from office. The filing also mentions that the Trinad Group is filing a lawsuit against the company and several current and former directors and officers for breaching their fiduciary duties while managing business affairs, engaged in self-dealing transactions to further their personal interests, usurped corporate opportunities, mismanaged and wasted the company's assets and used poor judgment in appointing certain officers.
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