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July 7, 2014
09:32 EDTNEWLNewLead files claims against Ironridge seeking damages in excess of $125M
NewLead announced that on June 23, in arbitration proceedings currently pending between the Company and Ironridge Global, the company filed claims against Ironridge for breach of contract, fraudulent inducement of contract and fraud, securities market manipulation and misrepresentation in violation of United States federal securities laws, unjust enrichment, seeking disgorgement of short-swing profits, damages in excess of $25M, punitive damages in excess of $100M, and reimbursement of legal costs and the costs of the arbitration. NewLead has also requested that the arbitration tribunal declare that the agreement between NewLead and Ironridge is terminated and/or void ab initio, and that Ironridge has no entitlement to the issuance of additional common shares of NewLead.
News For NEWL From The Last 14 Days
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February 24, 2015
09:16 EDTNEWLNewLead announces contract of affreightment for MT Katerina L
NewLead announced that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or, at the Charterer's option, up to a maximum of 49,600 tons of bitumen over 16 voyages. The first shipment is scheduled to commence by the end of February 2015. The Katerina L will be trading in the Mediterranean and United Arab Emirates areas between all the major refineries in the respective areas. Katerina L has secured employment for a minimum of 100 and a maximum of 300 days in 2015, depending on the respective trading routes.

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