Sedari: Difference between revisions

[[Kevin Wilson]], former ICANN CFO was recruited by Williams to join the company and assumed the same position he held at ICANN. Wilson accepted the position of CFO and he also agreed to invest €100,000 in the company. Wilson gave his initial investment of €50,000 to the company however his relationship with Williams became sour when he raised his concerns that it is impossible for him to perform the duties of a CFO if he will not be given full access to the bank information of the company. Williams promised that he will soon have full access to the company's bank accounts. On October 2011, Wilson refused to give the additional €50,000 to complete his investment to the company and he was terminated as CFO of the company. Following his termination, Wilson filed a Declaratory Relief and Fraud lawsuit against Sedari. He claimed that the promises made by Williams that he will have full access to the company's financial records as CFO was false. He also claimed that the representations regarding clients, revenue opportunities, bank account and expenses were not true. Wilson is seeking the return of the €50,000 investment to the company.<ref>[http://domainincite.com/docs/Wilson-v-Sedari.pdf Kevin Wison v. Sedari]</ref>

In a statement, Sedari claimed that Wilson broke his legally binding obligations to the company particularly the agreement that he will not act against the interest of the company. Because of his actions, the Board decided to forfeit his shares. Sedari dismissed the allegations and promised to fight the case comprehensively.<ref>