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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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June 23, 2015
09:21 EDTNEWLNewLead enters into time charter contract for Newlead Castellano vessel
NewLead Holdings announced that it has entered into a time charter contract for one of its Eco-type dry bulk Handysize vessels, the Newlead Castellano, for a minimum of three and a maximum of five months. The gross charter-out rate is $7,650 per day less a 6.25% commission paid to third parties. The vessel was delivered to the charterers at the beginning of June. NewLead has approximately 50.71% and 36.53% of its operating days covered for 2015 for its dry bulk and tanker vessels, respectively.

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