Article: Belmac Corporation files suit against former CEO. (John Macleod)

BELMAC CORPORATION FILES SUIT AGAINST FORMER CEO

TAMPA, Fla., Sept. 7 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today that it has filed suit against its former president and chief executive officer, John Macleod, and its former counsel Stanley Hagendorf, for having misappropriated to their own use a pharmaceutical product tradenamed Odicine (R). The suit filed in Pinellas County Circuit Court alleges that in late 1987, Macleod and Hagendorf breached their duties as officers and directors of Belmac by intentionally withholding from the directors of Belmac the opportunity for the company to invest in Odocine (R), while at the same time creating a ...

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