The action was revealed by the company last month after Phil Drake requested Turner and three others replace four board members. Drake’s legal counsel said he will solicit shareholders to propose its own slate, including naming Turner as chair. Drake's role was not specified in the filing with Canada's SEDAR, for securities authorities in that country.
However, the company said while Turner was CEO it conducted business with business entities in which Turner had “a continuing financial interest, at significant cost to the Company: without informing the board.
His actions, the board alleged, were inconsistent with his duties as an officer and director while failing to following the board’s directive regarding related party transactions and creating an inappropriate “tone at the top” The Progressive Accoiuntant has asked Turner for comment about the NextPoint disclosure.
NextPoint hired independent legal counsel to review Turrner’s use of corporate funds and resources while he was in office.
“If appropriate, the Company is committed to seeking restitution and other remedies for the benefit of the Company's shareholders from Mr. Turner,” the board wrote in a public announcement.?.lkjhgftrghyujikuytrtyuytrtyuivgbhgdsesdxs