BRIEF-Photon Control provides corporate update

Thu Jul 21, 2016 7:59am EDT
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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)