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Pharmacy Tech Investors Say Board Gave Itself Cheap Stock

Law360, Wilmington (July 12, 2018, 10:32 PM EDT) -- Minority shareholders of pharmacy technology company KloudScript Inc. filed suit in Delaware Chancery Court accusing the company’s directors of secretly issuing themselves deeply discounted shares in the firm to dilute the voting power of other equity holders.

In their complaint, a group of eight holders of preferred and common stock said late Wednesday that four directors of KloudScript and three others closely affiliated with them conspired to issue more than 1 million shares in new preferred stock beginning December 2017 at discounts of more than 90...
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