Optec International (OTC: OPTI) is the focus of a judgment filed by California-based RB Capital Partners Inc., a private investment fund. A recent announcement noted that RB Capital was clarifying the judgment and releasing a shareholder update. According to the announcement, RB Capital observed that it was the largest investor and legitimate shareholder of OPTEC and was “forced to bring a shareholder derivative action against the company to secure our judgment, oust the failing [CEO] Roger Pawson and to try to preserve the assets of the company.” RB Capital filed the lawsuit, noting that Pawson used the company for self-dealing and mismanaged the operations of the corporation at the expense of the shareholders. The judgment was secured in November 2023; the judgment amount was $11.5 million interests and costs, which totaled $14,681,270.50 against Pawson and Optec jointly and severally.
“The court’s judgment also prohibits Pawson from serving as a director and/or CEO of Optec; prohibits Pawson from issuing any class of stock of Optec or transferring any assets of Optec to himself or any third party; prohibits Pawson from using Optec’s assets for his personal gain and to return all ill-gotten funds back to Optec, and finally, the court authorized RB Capital Partners Inc, upon application to the court, to appoint a receiver to control Optec and its assets,” said RB Capital Partners in the press release. “To date we have not sought the appointment of a receiver as we weigh the benefits of doing so, and RB Capital Partners Inc., nor any of its members, are an officer or director of Optec International Inc.”
To view the full press release, visit https://nnw.fm/aU7Bq
About RB Capital Partners Inc.
RB Capital Partners is a private investment fund headquartered and incorporated in California. The main investment focus of RB Capital is on small and microcap publicly traded companies trading on the OTC Markets, NASDAQ & New York Stock Exchange. RB Capital predominantly makes debt investments and is known for paying off harmful or convertible debt, giving companies a real chance of success. RB Capital Partners does not manage any outside money nor does it have any investors. It is run and funded solely by Brett Rosen and Deborah Rosen, who each have a 50% ownership stake in the company.
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer
NetworkNewsWire
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is powered by IBN
