Xynergy Holdings, Inc. Litigation Updates
January 21 2010 - 2:51PM
Marketwired
The litigation against Marc Walther brought by Xynergy Holdings,
Inc. (PINKSHEETS: XYNH) in Circuit Court Miami-Dade County Court,
Florida, which resulted in an Order Granting Plaintiff's Emergency
Motion for Injunctive Relief dated March 9, 2009 is ongoing. The
prior injunction ordered Mr. Walther to cease from making any
representations that he is an officer and/or director of Xynergy
Holdings, Inc. or from acting in such capacity on behalf of the
corporation and ordered him to return all corporate books and
records within ten (10) days from the entry of the Order.
The court on September 25, 2009 entered an order denying Mr.
Walther's Motion to Compel Arbitration, granted the Defendant's
Motion to Dismiss Count III of the Complaint with leave to amend
the claim as it relates to Xynergy which was a claim for breach of
fiduciary duty.
In October 2009, Xynergy amended its Complaint and is still
seeking damages against Marc Walther for breach of fiduciary duty,
and declaratory relief claiming that the issuance of preferred
shares issued by Walther was illegal and/or improper and that said
shares issued to Defendant Rhonda Windsor and Marc Walther should
be cancelled.
Defendant Marc Walther again moved to dismiss Plaintiff's
declaratory relief count, and breach of fiduciary duty against Marc
Walther. The court has not yet ruled on the Motion to Dismiss. A
hearing will be set shortly on the Motion to Dismiss.
The parties are currently involved in pretrial discovery
process; no trial date has yet been set.
About Xynergy Holdings, Inc.
Xynergy Holdings, Inc. is committed to meeting the world's
growing energy needs while also promoting environmentally conscious
business practices and sustainability. Their focus is on promoting
global commerce within the realm of a global economy.
Safe Harbor Disclosure:
This press release includes "forward-looking statements" within
the meaning of the federal securities laws, commonly identified by
such terms as "believes," "looking ahead," "anticipates,"
"estimates" and other terms with similar meaning. Although the
Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can give no
assurance that these assumptions will prove to be correct.
Important factors that could cause actual results to differ
materially from the Company's projections and expectations are
disclosed in the Company's filings with the Securities and Exchange
Commission. All forward-looking statements in this press release
are expressly qualified by such cautionary statements and by
reference to the underlying assumptions.
Contact: Xynergy Holdings, Inc. Amber Rice 305-819-0453
Xynergy (CE) (USOTC:XYNH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xynergy (CE) (USOTC:XYNH)
Historical Stock Chart
From Jul 2023 to Jul 2024