OMPI » Topics » ITEM 3: LEGAL PROCEEDINGS

This excerpt taken from the OMPI 10-Q filed May 8, 2008.

ITEM 1:    LEGAL PROCEEDINGS

        From time to time, we are involved in litigation and other legal matters in the normal course of business. Management does not believe that the outcome of any of these matters will have a material adverse effect on our consolidated financial position, results of operations or cash flows.

These excerpts taken from the OMPI 10-K filed Mar 4, 2008.

ITEM 3:    LEGAL PROCEEDINGS

        From time to time, we are involved in litigation and other legal matters in the normal course of business. Management does not believe that the outcome of any of these matters will have a material adverse effect on our consolidated financial position, results of operations or cash flows.



ITEM 3:    LEGAL PROCEEDINGS



        From time to time, we are involved in litigation and other legal matters in the normal course of business. Management does not believe that the outcome of any of
these matters will have a material adverse effect on our consolidated financial position, results of operations or cash flows.



This excerpt taken from the OMPI 10-K filed Mar 15, 2007.

ITEM 3:  LEGAL PROCEEDINGS

On March 8, 2006, Austin McNamara, the former chairman of our board, president and chief executive officer, filed a charge of discrimination against us with the California Department of Fair Employment and Housing (“DFEH”). Mr. McNamara died in December 2006. Mr. McNamara alleged that we demoted, harassed and otherwise discriminated against him due to his purported physical disability and medical condition. Mr. McNamara requested an immediate right-to-sue notice. On March 20, 2006, the DFEH closed its case. The DFEH did not conduct an investigation or make a determination on the merits of the complaint. Mr. McNamara’s estate has the right to file a discrimination lawsuit in a state court action within one year of the DFEH’s letter closing its case. While Mr. McNamara did not allege a specific amount of damages, the remedies available under California law include compensatory damages, as well as attorneys’ fees. Mr. McNamara  also threatened to file a wage claim with the California Labor Commissioner, though we are not aware of either Mr. McNamara or his estate actually filing the claim. Mr. McNamara alleged that we did not pay all wages, bonuses, and severance owed to him. Mr. McNamara served as our chief executive officer from September 2001 until July 2005, and as our president from September 2001 until March 2005. He also served on our board of directors and as chairman from September 2001 until May 2006. We cannot determine the outcome of these matters at this time. As discussed in the risk factor entitled “We may be sued by the Estate of Austin McNamara, our former Chairman and Chief Executive Officer, and certain trusts established by Mr. McNamara,” Mr. McNamara’s estate and certain trusts he had established have claimed that we have materially breached our obligation to repurchase shares of our common stock held by the trust pursuant to an Investor’s Rights Agreement. We have not been notified that any legal action has been commenced with regard to this claim.

From time to time, we are involved in litigation and other legal matters in the normal course of business. Management does not believe that the outcome of any of these matters will have a material adverse effect on our consolidated financial position, results of operations or cash flows.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki