It looks like a legal battle for control of electronic trading solutions provider TradingScreen may be brewing.
Following our report yesterday of a (supposed) lawsuit filed in Geneva against TradingScreen by a group stating that it represents the majority of common shareholders in TradingScreen, we have an official statement from the company itself refuting the claims.
The TradingScreen statement (full text below) states that every allegation made is false and baseless, and has been propagated by disgruntled former TradingScreen CEO Philippe Buhannic who was fired by the Board for cause last year after intentionally hitting an employee in front of numerous witnesses, as well as for other corporate malfeasance.
We will continue to follow this story as it develops.
The TradingScreen statement follows:
Both the Chairman of the Board and the CEO of TradingScreen strongly contest the allegations repeated in your article of October 12th. Every allegation made is false, baseless, and meritless, and has been propagated by the company’s disgruntled former CEO, who was fired by the Board for cause last year after intentionally hitting an employee in front of numerous witnesses and attempting to cover it up, as well as for other corporate malfeasance. This individual neither is a majority shareholder of TradingScreen nor does he represent a majority of shareholders or even speak for the majority of shareholders. Thus, the standing he claims is totally false. Just because he claims it, does not make it so.
Further, we currently have no evidence or notice that such a “shareholder action” even exists, apart from Mr. Buhannic’s false and self-serving allegations. As for the alleged claims themselves, there is not one iota of fact in them, not one:
First, your headline is incorrect — neither the company nor its chair have had any notice of a suit, whatsoever, other than Mr. Buhannic’s repeated threats and related inflammatory statements.
Second, the various allegations are so false as to be ludicrous. They are false facts, made up and presented in an inflammatory manner to try to discredit the company and board that fired Mr. Buhannic for cause.
Mr. Buhannic was terminated in June, 2016 by the Board for cause after hitting an employee in front of witnesses and attempting to cover it up, as well as for other serious infractions. He is now putting forth these false allegations in an attempt to harm the company that fired him.
He and his brother Patrick have brought numerous actions in the US, none of which has been successful, in an attempt to damage the company’s reputation.
Thus, the totality of these claims, and each individual claim, are false, defamatory, baseless and without merit. We contest them now, and should any new shareholder action emerge, we will vigorously contest it at every level.
The truth must be maintained, and affirmed, and we hope you will print our response to these specious allegations . There is an objective truth here, but this posting is unfortunately far from it.