Paragon Announces Settlement with Hesham M. Gad, Litigation Dismissed

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Rhea-AI Summary

Paragon Technologies (OTC PINK:PGNT) has announced a mutual settlement agreement with Hesham M. Gad, effectively ending their ongoing litigation. The settlement terms specify that Mr. Gad will withdraw his claims against multiple Paragon directors, including Samuel S. Weiser, Jack H. Jacobs, H. Timothy Eriksen, David Lontini, and Howard Brownstein.

In a reciprocal move, Paragon has agreed to dismiss its counterclaims against Mr. Gad. This resolution marks the conclusion of the legal dispute between both parties.

Positive

Settlement agreement reached, ending ongoing litigation with Hesham Gad

Negative

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04/29/2025 - 04:20 PM EDT

EASTON, PA / ACCESS Newswire / April 29, 2025 / Paragon Technologies, Inc. (OTC PINK:PGNT) ("Paragon") today announced that it has reached a settlement agreement with Hesham M. Gad with respect to the ongoing litigation and other related matters. Pursuant to the agreement, Mr. Gad has agreed to dismiss his claims against directors Samuel S. Weiser, Jack H. Jacobs, H. Timothy Eriksen, David Lontini, and Howard Brownstein, and Paragon has concurrently agreed to dismiss its counterclaims against Mr. Gad.

About Paragon Technologies

Paragon Technologies, Inc. is a holding company owning subsidiaries that engage in diverse business activities, including material handling, distribution, real estate, and investments. For additional information please visit: www.pgntgroup.com.

Investor Relations Contact:

Alliance Advisors IR
ParagonIR@allianceadvisors.com

SOURCE: Paragon Technologies Inc.

View the original press release on ACCESS Newswire

FAQ

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What is the settlement agreement between Paragon Technologies (PGNT) and Hesham Gad in 2025?

The settlement agreement involves Hesham Gad dismissing his claims against Paragon's directors (Weiser, Jacobs, Eriksen, Lontini, and Brownstein), while Paragon agrees to dismiss its counterclaims against Gad.

Which Paragon Technologies (PGNT) directors were involved in the Hesham Gad litigation settlement?

The directors involved were Samuel S. Weiser, Jack H. Jacobs, H. Timothy Eriksen, David Lontini, and Howard Brownstein, against whom Hesham Gad's claims were dismissed.

When did Paragon Technologies (PGNT) announce its legal settlement with Hesham Gad?

Paragon Technologies announced the legal settlement with Hesham Gad on April 29, 2025.

What are the terms of the Paragon Technologies (PGNT) and Hesham Gad settlement?

Under the settlement terms, Hesham Gad agreed to dismiss his claims against five Paragon directors, and in return, Paragon agreed to dismiss its counterclaims against Gad.

How does the Hesham Gad settlement affect Paragon Technologies (PGNT) ongoing litigation?

The settlement effectively ends the ongoing litigation between Paragon Technologies and Hesham Gad through mutual dismissal of claims and counterclaims.

Paragon Announces Settlement with Hesham M. Gad, Litigation Dismissed