Paragon Technologies Board Nominates Ronell Rivera and Elodie Leoni Without Their Consent

Rhea-AI Summary

Paragon Technologies (OTC PINK:PGNT) faces controversy as board nominees Ronell Rivera and Elodie Leoni publicly denounce their unauthorized inclusion in the company's management slate. Both individuals had explicitly declined nominations through the Board's Nominating Committee, yet their names appeared in formal proxy materials released this week. Rivera and Leoni issued statements confirming their commitment to the Gad shareholder-aligned slate while expressing concerns about the unauthorized use of their names. The unauthorized nominations potentially violate Delaware law and raise serious questions about corporate governance practices and transparency in Paragon's board nomination process.

Positive

• None.

Negative

• Board included nominees without their consent, potentially violating Delaware law
• Misleading proxy materials that could confuse shareholders
• Questionable corporate governance practices by current board
• Potential legal and regulatory consequences from unauthorized nominations

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NEW YORK, NY / ACCESS Newswire / May 30, 2025 / Today, Ronell Rivera and Elodie Leoni issued a joint statement in response to their unauthorized inclusion on the management slate proposed by the current Board of Paragon Technologies, Inc. (OTC PINK:PGNT) ("Paragon" or the "Company").

Despite having previously and explicitly declined to be nominated by the Board's Nominating Committee, both individuals were named as part of the company's formal proxy materials released this week.

"I clearly and respectfully informed Mr. Tim Eriksen that I did not wish to be included on the management slate," said Mr. Rivera. "To be listed against my will - after making my position unmistakably clear - creates a false impression to shareholders during a highly sensitive process. I remain fully committed to the Gad shareholder-aligned slate and to transparent, ethical governance."

Ms. Leoni added: "I made it unequivocally clear to Mr. Eriksen that I did not consent to being nominated on his slate. Including my name without permission is a disservice to shareholders. I remain fully committed to the Gad shareholder-aligned slate and to transparent, ethical governance."

Despite their clear instructions, Mr. Rivera and Ms. Leoni's names were included without their consent - an act that misleads shareholders and a potential violation of Delaware law.

CONTACT:
hmgad78@gmail.com

SOURCE: Sham Gad

View the original press release on ACCESS Newswire

FAQ

What controversy is surrounding Paragon Technologies (PGNT) board nominations?

Paragon Technologies' board included Ronell Rivera and Elodie Leoni in their management slate without their consent, despite both individuals explicitly declining to be nominated.

Who are Ronell Rivera and Elodie Leoni supporting in the Paragon Technologies (PGNT) board election?

Both Rivera and Leoni have publicly stated they remain fully committed to the Gad shareholder-aligned slate, not the management slate.

What potential legal issues does Paragon Technologies (PGNT) face from unauthorized nominations?

The unauthorized inclusion of nominees without their consent potentially violates Delaware law and could lead to legal consequences.

How did Paragon Technologies (PGNT) nominees respond to their unauthorized inclusion?

Both nominees issued public statements denouncing their unauthorized inclusion and reaffirming their commitment to the Gad shareholder-aligned slate.

What impact could the unauthorized nominations have on PGNT shareholders?

The unauthorized nominations create misleading proxy materials that could confuse shareholders during the voting process and raise concerns about corporate governance.