Natural Health Trends (BHIP) Files Suit Against Company's Founder
Natural Health Trends Corp. (NASDAQ: BHIP) announced today that it has filed a lawsuit against Terry LaCore, the Company's founder and a former director and executive officer. The lawsuit charges Mr. LaCore and his company, bHIP Global, Inc., with numerous unlawful acts, including employee raiding, theft of confidential information and trade secrets, tortious interference and unfair competition. The legal action was filed in a state court in Dallas, Texas.
Among other things, the lawsuit alleges attempts by Mr. LaCore and his company to induce employees, distributors and vendors to breach contractual agreements and to disclose confidential information. It also accuses Mr. LaCore of deliberately naming his latest network marketing project and product using Natural Health Trend's stock ticker symbol for the purpose of confusing the marketplace and investors.
Natural Health Trends also sought and obtained a temporary restraining order to immediately halt the unlawful use of its confidential information and interference with its contracts with employees, distributors and vendors pending further action of the court.
Chris Sharng, President of Natural Health Trends Corp., said, "Our lawsuit describes dishonest and unethical conduct that is increasingly blatant. It seeks to stop that conduct and end an illegal assault on our relationships with our distributors, employees and vendors. We intend to use all legal means in any and all jurisdictions to prevent further attempts to undermine our business." [SM]
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