Pollution Research Sued Over Proxy Materials
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Pollution Research & Control, a Glendale company that makes air-quality testing devices, said a group of shareholders who claim to own 13% of the company have filed suit against it in Los Angeles Superior Court.
The suit claims that proxy materials for a special Dec. 31, 1990, shareholders meeting “contained material misstatements and omissions,” the company said. The meeting had been called to consider a proposal to reincorporate in Delaware. On Dec. 28, a judge issued an order allowing the meeting to go ahead, but preventing the company from reincorporating until a fuller hearing on the suit, to be held Jan. 16.
In a statement, Albert E. Gosselin, Jr., chief executive of the company, denied the charges contained in the suit.
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