Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company

Namaste Technologies Inc (OTCMKTS:NXTTF) (CVE:N) said its former CEO, Sean Dollinger, is suing the company over his departure from the cannabis company.

The Vancouver-based company said Monday in a press release distributed by Cision that the matter is now before the Ontario Superior Court of Justice Commercial List, which handles commercial litigation.

READ: Namaste board fires CEO, launches strategic review

Earlier this week, the company announced that following an investigation by a special committee of the board, Dollinger was terminated as CEO. The company also said it was starting a strategic review to consider alternatives including a possible sale of Namaste.

Meni Morim was appointed interim CEO.

According to the company, the investigation focused on the sale of Namaste’s US subsidiary, Dollinger Enterprises US Inc, and subsequent transactions involving its assets and companies in which Dollinger had an interest.

“I intend to begin setting the record straight and clearing any misconceptions caused by the inaccurate allegations leveled against me,” Dollinger said Tuesday in a statement.

Shares traded at US$0.90 in Tuesday’s OTC Markets trading. They climbed C$0.01 to C$1.19 in Canada.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors