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July 1, 2014
13:31 EDTFORDWise condemns any 'extraordinary action' taken by Forward Industries
Terence Bernard Wise disclosed that he delivered a letter to Forward Industries' Chairman of the Board, expressing "strong condemnation of any prospective extraordinary action taken by the Board without shareholder approval prior to the contested 2014 Annual Meeting." Wise has engaged, and intends to continue to engage, in discussions with management and the board regarding the nomination of directors as well as ways to enhance stockholder value. He owns 19.6% of the company's outstanding shares.
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August 28, 2014
13:44 EDTFORDForward Industries CFO dismissal called 'reckless' by largest shareholder
Terence Bernard Wise, the largest shareholder and member of the board of directors of Forward Industries, issued a statement commenting on Forward's abrupt firing of its Chief Financial Officer on August 19 without full Board accord, immediately prior to the release of Forward's Q2 results. "The unexpected firing of James McKenna, Forward's Chief Financial Officer since 2008, represents yet another reckless effort by Chairman Frank LaGrange Johnson and his supporters on the Board to further insulate their positions in the face of managerial disapproval and shareholder value destruction...It is clear to me that Mr. Johnson and his supporters truly will stop at nothing to preserve their control of the Board and keep shareholders in the dark regarding fundamental changes to Forward, decided behind closed doors," Wise stated.
August 25, 2014
17:14 EDTFORDForward Industries terminates CFO James McKenna
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August 21, 2014
18:05 EDTFORDCourt rejects Forward Industries' preliminary injunction request against Wise
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