AlarmForce Abandons Lawsuit-Resulting in $45,000 Payment to Think Protection and Executives
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/26/15 -- On Monday, May 25, 2015, the Honourable Justice Dow of the Superior Court of Justice ordered that AlarmForce Industries Inc. ("AlarmForce") pay a total of $45,000 in costs to Think Protection Inc. ("Think Protection"), Joel Matlin, Adam Matlin, David Costantini and Maciej Gerwel.
On March 14, 2015, AlarmForce commenced a motion for injunctive relief that it ultimately abandoned a month later on April 14, 2015. Among other things, AlarmForce originally sought to prevent two of Think Protection''s talented young professionals, David Costantini and Maciej Gerwel, who were previously employed by AlarmForce, from being able to work for Think Protection. By abandoning the injunction, AlarmForce effectively admitted that it would not succeed.
All of the defendants are pleased with quantum of costs that was awarded.
Mr. Matlin established AlarmForce in 1988, brought it public on the TSX and grew the company and brand. He oversaw AlarmForce''s expansion to markets across Canada and the US. As widely reported in the press, Mr. Matlin was unceremoniously terminated without cause as President and CEO of AlarmForce on July 23, 2013, in relation to which he is actively pursuing an $11.3 million lawsuit against the company. As a result of the fulfilment of his non-compete agreement in the summer of 2014, Joel Matlin is allowed to compete against the company he founded 26 years ago by working with his son Adam Matlin and a team of experienced professionals to launch Think Protection.
With respect to the cost decision, Joel Matlin said, "The Judge''s cost ruling shows that this motion was frivolous and was pursued by AlarmForce because it''s scared of Think Protection coming to market. I believe that AlarmForce is afraid of a new competitor with a superior value proposition offering customers a better choice for home security."
Think Protection is officially launching June 1, 2015 and will be offering security solutions throughout Canada and the U.S.
Contacts:
Think Protection
Margaret Brady
EA to the President and CEO
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Datum: 26.05.2015 - 11:49 Uhr
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News-ID 1361346
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