Aerosonic Corp. files suit against former CEO and president.CLEARWATER, Fla.--(BUSINESS WIRE)--Oct. 3, 1996--Aerosonic Corp. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AIM) filed suit Thursday against its former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President, David S. Goldman, for fraud and misappropriation misappropriation n. the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any of funds, appropriation of corporate opportunity, breach of fiduciary duty Noun 1. fiduciary duty - the legal duty of a fiduciary to act in the best interests of the beneficiary legal duty - acts which the law requires be done or forborne and conversion. J. Mervyn Nabors, the CEO and chairman, announced Thursday that the action was based on a review recently conducted by its outside public accountants. The suit was filed in Pinellas County Circuit Court in Clearwater. Goldman was employed by Aerosonic from 1969 until February 1996. Goldman served as president and CEO of Aerosonic from June 1992 until mid 1995. CONTACT: Aerosonic Corp., Clearwater J. Mervyn Nabors, 813/461-3000 813/447-5926 (fax) |
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