11/09/2011
Catch the Wind Provides OADS Litigation Update
CHANTILLY, VA, Nov. 8, 2011 - Catch the Wind Ltd. (TSX-V: CTW), providers of laser-based wind sensor products and technology, announced today that in connection with the preliminary injunction filed by the Company in the Circuit Court for Prince William County, Virginia, against Optical Air data Systems, LLC ("OADS") and Philip L. Rogers, the former President and CEO of the Company, it has received a copy of a counterclaim filed by OADS and Mr. Rogers against the Company, pursuant to which Mr. Rogers has asserted a claim for severance under his employment agreement and OADS has asserted a claim for breach of the sublease agreement between the Company's wholly-owned subsidiary and OADS.
The Company believes that the claims made by Mr. Rogers and OADS are without merit. The Circuit Court for Prince William County has temporarily stayed all of the actions in these proceedings pending the outcome of court ordered mediation.
About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company headquartered in Chantilly, Virginia. The Company was founded in 2008 to develop and manufacture the Vindicator® laser wind sensor.
Catch the Wind serves the commercial market sector for laser based wind sensor systems, recognized as the "gold standard" in wind measurement. The Company is focused on becoming a major contributor in making clean, renewable wind energy more affordable and profitable.
The Company believes that the claims made by Mr. Rogers and OADS are without merit. The Circuit Court for Prince William County has temporarily stayed all of the actions in these proceedings pending the outcome of court ordered mediation.
About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company headquartered in Chantilly, Virginia. The Company was founded in 2008 to develop and manufacture the Vindicator® laser wind sensor.
Catch the Wind serves the commercial market sector for laser based wind sensor systems, recognized as the "gold standard" in wind measurement. The Company is focused on becoming a major contributor in making clean, renewable wind energy more affordable and profitable.
- Source:
- catch the wind, Inc.
- Email:
- cjaques@catchthewindinc.com
- Link:
- www.catchthewindinc.com/...