Paragon Calls on Sham Gad to Put Up or Shut Up
Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
Paragon Technologies' Audit Committee has issued a direct challenge to former Chairman and CEO Hesham 'Sham' Gad regarding transparency concerns. The Committee is demanding Gad to remove non-disclosure elements from an April 2025 litigation settlement agreement, which he had previously insisted upon. Committee member Mr. Eriksen questioned Gad's commitment to transparent and ethical governance, suggesting a disconnect between his public statements and actions. The confrontational statement highlights ongoing tensions between the company's Audit Committee and its former executive, particularly focusing on shareholders' right to full information access.
Il Comitato di Revisione di Paragon Technologies ha lanciato una sfida diretta all'ex Presidente e CEO Hesham 'Sham' Gad riguardo a preoccupazioni sulla trasparenza. Il Comitato chiede a Gad di rimuovere le clausole di non divulgazione dall'accordo di risoluzione di una controversia legale di aprile 2025, che lui aveva precedentemente imposto. Il membro del Comitato, il Sig. Eriksen, ha messo in dubbio l'impegno di Gad verso una governance trasparente ed etica, suggerendo una discrepanza tra le sue dichiarazioni pubbliche e le sue azioni. La dichiarazione conflittuale mette in evidenza le tensioni in corso tra il Comitato di Revisione della società e il suo ex dirigente, concentrandosi in particolare sul diritto degli azionisti ad avere pieno accesso alle informazioni.
El Comité de Auditoría de Paragon Technologies ha lanzado un desafío directo al ex presidente y CEO Hesham 'Sham' Gad por preocupaciones relacionadas con la transparencia. El Comité exige que Gad elimine las cláusulas de confidencialidad del acuerdo de conciliación de litigios de abril de 2025, que él había insistido previamente. El miembro del Comité, el Sr. Eriksen, cuestionó el compromiso de Gad con una gobernanza transparente y ética, sugiriendo una desconexión entre sus declaraciones públicas y sus acciones. La declaración confrontativa resalta las tensiones continuas entre el Comité de Auditoría de la empresa y su ex ejecutivo, enfocándose especialmente en el derecho de los accionistas a tener acceso completo a la información.
파라곤 테크놀로지스 감사위원회는 전 회장 겸 CEO인 헤샴 '샴' 가드에게 투명성 문제와 관련해 직접적인 도전을 제기했습니다. 위원회는 가드가 이전에 고집했던 2025년 4월 소송 합의서의 비공개 조항을 제거할 것을 요구하고 있습니다. 위원회 위원인 에릭센 씨는 가드의 투명하고 윤리적인 경영 의지를 의문시하며, 그의 공개 발언과 행동 사이에 괴리가 있다고 지적했습니다. 이 대립적인 성명은 회사 감사위원회와 전 임원 간의 지속되는 긴장을 부각시키며, 특히 주주들의 정보 완전 접근권에 초점을 맞추고 있습니다.
Le comité d'audit de Paragon Technologies a lancé un défi direct à l'ancien président et PDG Hesham 'Sham' Gad concernant des préoccupations liées à la transparence. Le comité exige que Gad retire les clauses de non-divulgation d'un accord de règlement judiciaire d'avril 2025, qu'il avait auparavant insisté pour inclure. M. Eriksen, membre du comité, a remis en question l'engagement de Gad envers une gouvernance transparente et éthique, suggérant un décalage entre ses déclarations publiques et ses actions. Cette déclaration conflictuelle met en lumière les tensions persistantes entre le comité d'audit de l'entreprise et son ancien dirigeant, en mettant particulièrement l'accent sur le droit des actionnaires à un accès complet à l'information.
Der Prüfungsausschuss von Paragon Technologies hat eine direkte Herausforderung an den ehemaligen Vorsitzenden und CEO Hesham 'Sham' Gad wegen Transparenzbedenken ausgesprochen. Der Ausschuss fordert Gad auf, die Vertraulichkeitsklauseln aus einer Vergleichsvereinbarung aus dem April 2025 zu entfernen, die er zuvor durchgesetzt hatte. Ausschussmitglied Herr Eriksen hinterfragte Gads Engagement für transparente und ethische Unternehmensführung und deutete auf eine Diskrepanz zwischen seinen öffentlichen Aussagen und seinem Handeln hin. Die konfrontative Erklärung hebt die anhaltenden Spannungen zwischen dem Prüfungsausschuss des Unternehmens und dem ehemaligen Geschäftsführer hervor, wobei der Schwerpunkt insbesondere auf dem Recht der Aktionäre auf vollständigen Informationszugang liegt.
Positive
- Audit Committee's proactive stance in demanding transparency for shareholders
- Company's effort to ensure shareholders and board nominees have access to complete information
Negative
- Existence of undisclosed litigation settlement terms from April 2025
- Ongoing corporate governance disputes with former Chairman/CEO
- Potential information being withheld from shareholders and board nominees
EASTON, PA / ACCESS Newswire / May 30, 2025 / The Audit Committee of Paragon Technologies (OTC PINK:PGNT) calls on former Chairman and CEO, Mr. Hesham "Sham" Gad to put up or shut up. The Committee is demanding that Gad align his purported public commitment to "transparent, ethical governance" with action by immediately lifting the non-disclosure elements of the April 2025 litigation settlement agreement- terms he insisted upon.
"If Mr. Gad is truly committed to transparency and ethical governance," stated Mr. Eriksen, a Committee member, "he should not only be willing to provide shareholders and his board nominees all available information in order to make a fully informed decision, he should insist upon it."
"The question for Mr. Gad is simple and straightforward," Mr. Eriksen concluded. "Will you agree to transparency and remove the non-disclosure restrictions you insisted upon, allowing shareholders and your board nominees to exercise their rights with all the facts, or is your stated "commitment" merely rhetoric, part of your ongoing pattern designed to mislead and deceive shareholders?"
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
What is the dispute between Paragon Technologies (PGNT) and former CEO Sham Gad about?
The dispute centers around non-disclosure elements in an April 2025 litigation settlement agreement that former CEO Sham Gad insisted upon, which the Audit Committee claims contradicts his public commitment to transparent governance.
When was the litigation settlement agreement between Paragon Technologies and Sham Gad signed?
The litigation settlement agreement was signed in April 2025.
Who is currently challenging Sham Gad's position at Paragon Technologies (PGNT)?
The Audit Committee of Paragon Technologies, including Committee member Mr. Eriksen, is challenging Sham Gad's position regarding transparency.
What is Paragon Technologies' Audit Committee demanding from Sham Gad?
The Audit Committee is demanding that Sham Gad remove the non-disclosure elements from the April 2025 litigation settlement agreement to allow shareholders and board nominees access to all information.
What position did Sham Gad previously hold at Paragon Technologies?
Sham Gad previously served as Chairman and CEO of Paragon Technologies.
Paragon Technologies Inc
OTC:PGNT
PGNT Rankings
PGNT Latest News
May 30, 2025
Paragon Technologies Board Nominates Ronell Rivera and Elodie Leoni Without Their Consent
May 28, 2025
Mr. Gad's Director Nominees Ask Stockholders to Support Necessary Change at Paragon Technologies' 2025 Annual Meeting