Ex-CEO Ken Hancock, owed $4M by RLF AgTech, takes termination dispute to Supreme Court over unexpected ousting.
Ken Hancock, ex-CEO and major shareholder of RLF AgTech, is taking his termination dispute to the Supreme Court, claiming his ousting last month, while he arranged further loan funding support, came unexpectedly. RLF AgTech owes Hancock over $4M and the company has seen earnings decline despite expectations of strong sales in Asia and carbon farming initiatives in Australia. Hancock's termination notice cited unfounded allegations against him and the board's lack of proper investigation. The board argues they will vigorously defend their decision in court.
July 29, 2024
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