COMPANY FILES SUIT AGAINST TURBODYNE.Byline: Enrique Rivero Daily News Staff Writer Glendale-based Pollution Research and Control Corp. said Monday that it has filed suit against Turbodyne Technologies Inc., alleging that the Woodland Hills company breached an agreement to purchase two PRC subsidiaries. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. PRC, Turbodyne backed out of its deal to purchase PRC's Dasibi Environmental Corp. and Logan Medical Devices Inc. The suit, which was filed in Los Angeles Superior Court, seeks more than $2 million in compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. , plus punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. and declaratory relief declaratory relief n. a judge's determination (called a "declaratory judgment") of the parties' rights under a contract or a statute often requested (prayed) for information in a lawsuit over a contract. . PRC also is asking for ``a special master to oversee the deliberations of Turbodyne's board of directors regarding this matter,'' a company statement said. PRC officials did not return telephone calls Monday. PRC has said that the companies signed a definitive agreement Aug. 20 for PRC to sell Dasibi and Logan to Turbodyne for an undisclosed sum. About a week later, however, Turbodyne backed out of the agreement, the Glendale company has said. Mark White, who is in charge of Turbodyne's investor relations Investor relations The process by which the corporation communicates with its investors. , said Monday that the company had not received a copy of the suit and had no comment. Turbodyne makes pollution reduction and fuel economy enhancing technology. |
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