Epic Research Investors Claim CEO Lied About Credentials

Law360, Wilmington (August 31, 2015, 1:48 PM EDT) -- Two investors and former directors of medical device maker Epic Research and Diagnostics Inc. asked the Delaware Chancery Court on Friday to award damages against CEO Nancy R. Rizzo, whom they allege lied about her credentials and fired most of the board to head off an investigation of her management.

The derivative suit, filed by IHS Inc. Chairman and CEO Jerre Stead and a family trust held by Harlem Globetrotters owner and Chairman Mannie Jackson, claims that Rizzo misrepresented her academic credentials to lure investors for Epic, which aims to market a noninvasive medical diagnostic device.

It also claims that when...

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