Business
Mr. Gad Condemns Paragon Board's Concealment of Key Information Regarding the New Litigation and Seeming Abuse of Fiduciary Duty and Calls for Immediate Public Release of Complaint for Stockholder Transparency
Mr. Gad Condemns Paragon Board's Concealment of Key Information Regarding the New Litigation and Seeming Abuse of Fiduciary Duty and Calls for Immediate Public Release of Complaint for Stockholder Transparency.
About this update from Paragon Technologies, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Mr. Gad Condemns Paragon Board's Concealment of Key Information Regarding the New Litigation and Seeming Abuse of Fiduciary Duty and Calls for Immediate Public Release of Complaint for Stockholder Transparency\r\n \r\n \r\n\r\n\r\nMr. Gad Condemns Paragon Board's Concealment of Key Information Regarding the New Litigation and Seeming Abuse of Fiduciary Duty and Calls for Immediate Public Release of Complaint for Stockholder Transparency\r\n\r\n\r\n\r\n\r\n\r\nUnderscores Continued Pattern of Concealing Relevant Facts by Timothy Eriksen, Howard Brownstein, David Lontini and Samuel Weiser\r\n Highlights the Fact that the Current Directors Have Never Sought to Remove Mr. Gad from the Board for Any Wrongdoing Supports that No Wrongdoing was Committed\r\n Reiterates that the Poison Pill Passed by Timothy Eriksen, Howard Brownstein, and David Lontini Has Made Paragon Liable for a Significant Legal Expense\r\n Notes the False, Damaging and Despicable Statements Made About Our Employees and Managers Regarding the Hiring of Unauthorized Workers NEW YORK CITY, NY / ACCESS Newswire / May 19, 2025 / Hesham \"Sham\" Gad, the largest stockholder of Paragon Technologies, Inc. (OTC PINK:PGNT) (\"Paragon\" or the \"Company\"), owning approximately 28.4% of the Company's outstanding shares, today issued the following statement to fellow stockholders addressing an alarming and ongoing pattern of concealment by the Company's directors:\r\n Dear Fellow Stockholders:\r\n An incredibly alarming pattern of behavior continues to emerge at Paragon Technologies, Inc. (\"Paragon\" or the \"Company\"), one that began with Samuel Weiser and has now been sustained by Tim Eriksen - a supposed beacon of stockholder transparency - and fellow Weiser-picked directors Howard Brownstein and David Lontini serving on the Company's Board of Directors (the \"Board\").\r\n This pattern is evident in a series of deliberate decisions that reveal how this Board has prioritized self-preservation over transparency with stockholders. Two moments in particular stand out:\r\n \r\n First, nine months ago, Sam Weiser perpetuated a disingenuous campaign accusing me of concealing major claims from the Company, claims that the Delaware Court of Chancery (the \"Court\") has described as \"questionable.\" Further, if proven true, these claims should have certainly be...