Competitive Technologies, Inc. (CTCC) Resolves Litigation With Former Chief Executive Officer
1/27/2012 9:31:46 AM
FAIRFIELD, Conn., Jan. 27, 2012 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (OTCQX:CTTC) today announced that it has settled all disputes with its former Chairman and CEO John B. Nano. Mr. Nano filed an arbitration demand against CTTC in September 2010 claiming that he was entitled to employment severance payments, while CTTC defended on the basis of its position that Mr. Nano was terminated for cause. By decisions in August and September 2011, the arbitrator awarded Mr. Nano the full amount of his claim, and in recent days the Superior Court of Connecticut confirmed the arbitration award to Mr. Nano.