Revolutions Medical Files Suit Against Former President and Director
(firmenpresse) - CHARLESTON, SC -- (Marketwire) -- 10/01/12 -- Revolutions Medical Corporation ("Revolutions Medical" or the "Company") (OTCQB: RMCP) announced today that it has filed suit in South Carolina against its former President and Director, Thomas G. O'Brien. The complaint alleges that O'Brien, as a director and officer of the Company, committed fraud, disregarded his fiduciary duties, and breached other obligations owed to the Company and its shareholders, by facilitating and negotiating contracts on behalf of the Company while at the same time sharing confidential Company information with, and receiving bribes from Richard H. Theriault, Strategic Product Development (SPD), and Medical Investment Group, (MIG). Mr. O'Brien never disclosed any of this information to the Company or its management. The complaint alleges further that O'Brien's actions are a clear breach of his employment agreement and his fiduciary responsibilities as an officer of Revolutions Medical. The complaint seeks to recover actual and punitive damages as well as a return of all salary paid to O'Brien under his employment agreement and over 3.6 million restricted shares. A full copy of the complaint is available on the Company's website at .
Ron Wheet, Chief Executive Officer and Chairman of Revolutions Medical, stated, "Recently uncovered evidence seems to indicate that O'Brien has received improper payments from Theriault, SPD, and MIG which, if confirmed, would be a complete betrayal of trust placed in him by all shareholders of our Company. In addition, O'Brien was responsible for the timing and progress of the Company's global distribution process and this new evidence appears to indicate that O'Brien compromised this process by placing his own interests above those of the Company and its shareholders. The sharing of the Company's confidential information with Theriault and his cohorts is unethical and possibly criminal. I will continue to do everything in my power to protect Revolutions Medical's valuable proprietary technology and pursue full legal remedies against anyone who attempts to harm the Company and its loyal shareholders."
About Revolutions Medical Corporation
Revolutions Medical is a safety medical device and software application company. Its products include the RevVac™ Safety Syringe (FDA cleared), safety blood drawing device, the RevColor™, RevDisplay™, and Rev3D™ software tools that are compatible with standard MRIs and standard Picture Archiving Computer Systems (PACS).
For additional information, please visit Revolutions Medical corporate website:
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FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
CONTACT:
Revolutions Medical Corporation
Investor Relations
843-606-9461
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Datum: 01.10.2012 - 07:14 Uhr
Sprache: Deutsch
News-ID 1155919
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Medical Devices
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