Welcome to our dedicated page for Paragon Technologies news (Ticker: PGNT), a resource for investors and traders seeking the latest updates and insights on Paragon Technologies stock.
Paragon Technologies Inc. (PGNT) is a diversified holding company with strategic interests in material handling, real estate, and value-driven investments. This page aggregates official news and analysis related to PGNT’s operational developments, financial updates, and corporate governance activities.
Investors and stakeholders will find timely updates on earnings reports, strategic acquisitions, capital restructuring initiatives, and leadership decisions. The curated content ensures transparent access to PGNT’s progress in risk management, non-dilutive financing strategies, and portfolio optimization.
Key news categories include financial performance, industry partnerships, shareholder communications, and regulatory filings. Bookmark this page for streamlined access to Paragon Technologies’ latest developments and historical announcements.
Paragon Technologies (OTC:PGNT) has mailed its definitive proxy statement for the upcoming annual meeting on June 30, 2025. The company's Nominating Committee is urging shareholders to vote "FOR" their proposed slate of directors on the WHITE proxy card, opposing former CEO Hesham Gad's proxy contest. The committee's proposed board includes five members: three independent directors (David Lontini, Howard Brownstein, and Tim Eriksen) added in December 2024, and two of Gad's nominees (Ronell Rivera and Elodie Leoni), representing 40% of the board.
The committee strongly criticizes Gad's leadership, citing alleged illegal residency, misclassification as a contractor, wasteful activism campaigns, and value-destroying litigation. They argue that despite owning only 28% of shares, Gad seeks 100% board control through his competing slate.
Paragon Technologies (OTCPK:PGNT) has issued a strong rebuttal to former Chairman and CEO Hesham "Sham" Gad's recent statements. The company alleges that Gad worked illegally in the US for over 20 years while failing to disclose this information, exposing Paragon to legal and reputational risks. The board criticizes Gad for prolonging litigation after bylaws were repealed, potentially costing shareholders millions. The company refutes Gad's accusations of concealment and states that shareholders can request access to the complaint against former corporate counsel. The board emphasizes that legal filings demonstrate Gad's pattern of deceit and mismanagement, urging shareholders to rely on factual information rather than his distortions.
Hesham "Sham" Gad, Paragon Technologies' (PGNT) largest stockholder with 28.4% ownership, has issued a critical statement regarding the company's Board of Directors' alleged pattern of concealment and transparency issues. The controversy centers around several key points:
The Board, including Timothy Eriksen, Howard Brownstein, and David Lontini, is accused of withholding material information about new litigation against former legal counsel, which follows $1.1 million in legal fees during Q1 2025. The company expects to spend $3 million on entrenchment litigation in the first half of 2025. Gad criticizes the Board's decision to keep the litigation complaint sealed from stockholders ahead of the 2025 Annual Meeting.
Additionally, Gad refutes accusations about unauthorized worker hiring and defends the company's HR practices. He calls for immediate public release of the complaint and transparency, arguing that the current directors' actions have significantly damaged the company's performance and culture.
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