July 21, 2016 / 12:02 PM / a year ago

BRIEF-Photon Control provides corporate update

July 21 (Reuters) - Photon Control Inc

* Photon control provides corporate update

* Previously disclosed on June 27, 2016 became aware of unauthorized transfer of $4.5 million to a related company controlled by Dueck

* Says engaged a forensic accounting firm to review and evaluate company's transactions with related third-party companies

* Says review is intended to ensure that company's control and disclosure practices were properly followed

* Says engaged an intellectual property auditor to review all of company's intellectual property ownership and agreements

* Says terminated its services agreement with DCD Management

* Says DCD management is controlled by David Dueck, a director of Photon Control Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below