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Stock Market & Financial Investment News

News Breaks
June 13, 2014
09:29 EDTFORDForward Industries responds to Terence Wise's 'intention to seek control'
Forward Industries said, "Wise has published his nomination letter to the Board of Directors of the Company in which he raises a number of purported reasons for submitting his nomination. However, Mr. Wise's past conduct may demonstrate his true intentions: To gain "creeping control" of your Company without paying a premium; To perpetuate and enhance the cash flows from his multi-million dollar related party arrangement, which he fears the Board may terminate. The other members of the Board, excluding Mr. Wise and his designee Howard Morgan believe Mr. Wise's action is not in the best interests of the Company and its shareholders."
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