Paragon Announces Final Resolution of Legacy Litigation Liabilities Created by Prior Board
EASTON, PENNSYLVANIA / ACCESS Newswire / March 4, 2026 / Paragon Technologies, Inc. (OTCID:PGNT) (Paragon' or the 'Company') today announced that it has resolved all legacy litigation liabilities arising from the litigation concerning entrenchment actions taken by a prior board of directors at the recommendation of certain prior counsel.
The litigation stemmed from a series of self-serving governance measures enacted by the former board at the recommendation of certain prior counsel, including disenfranchising bylaw amendment. Those actions were successfully challenged in defense of Paragon's stockholders.
All liabilities and expenses related to this litigation have been fully paid and will be reflected in the Company's 2025 annual financial results which will be publicly available in the coming weeks. "The independent directors worked hard to minimize such legacy liabilities and believe they have achieved a very meaningful and responsible outcome for stockholders," said Sham Gad, CEO of Paragon Technologies. Gad continued, "the Company has put legacy issues behind it and remains intensely focused on resuming its growth strategy."
About Paragon Technologies
Paragon Technologies, Inc. is a holding company owning subsidiaries that engage in diverse business activities, including material handling, distribution, real estate and investments.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, financial condition and performance and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, those related to: general economic conditions, including those in the markets in which the Company operates; the Company's ability to expand its revenue streams; technological changes in the Company's industry; the continued acceptance of the Company's distribution channel by vendors and customers; decreased demand for the Company's products and services and the Company's ability to retain or replace its significant customers; factors affecting the capital markets and share prices generally; economic and political risks of selling products in foreign countries, including risks of non-compliance with U.S. and foreign laws and regulations; cybersecurity risks and risks of damage and interruptions of information technology systems; and the Company's ability to complete acquisitions, strategic investments, divestitures, mergers or other transactions on acceptable terms or at all. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can management assess the impact of all such factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All statements in this press release other than statements that are purely historical are forward-looking statements. The Company does not intend and assumes no obligation, to update any forward-looking statements made in this press release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.
For further information, contact the company at ir@pgntgroup.com
SOURCE: Paragon Technologies Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/electronics-and-engineering/paragon-technologies-news-release-1143649
