DIRTT Environmental Solutions Ltd. (“DIRTT” or the “Company”) (TSX:DRT, NASDAQ:DRTT), an interior construction company that uses technology for client-driven design and manufacturing, filed a federal lawsuit in the U.S. District Court of Utah against Falkbuilt Ltd, Falkbuilt, LLC, Falk Mountain States, LLC, Kristy Henderson, and former DIRTT employee Lance Henderson. This action seeks to restrain the defendants from misappropriating DIRTT’s confidential information, trade secrets, business intelligence and customer information, and using that information to advance Falkbuilt’s U.S. businesses to the detriment of DIRTT.
The Company stated: “We are taking this action today to protect our brand, our business and the interests of our employees, clients, distribution partners, suppliers and shareholders and the communities we are privileged to serve. While we do not believe these efforts to interfere with our Company have had a material impact on our financial performance to date, such activity cannot be overlooked. We will take appropriate steps to safeguard the value of our business, brand, trusted relationships we have in the marketplace, and our longstanding commitments to our stakeholders. We intend to pursue this action to the fullest extent allowed by the law.”
The filing can be viewed at this link: http://doc-dir.com/uploads/complaint.pdf
Special Note Regarding Forward-Looking Statements
Certain statements contained in this news release are “forward-looking information” and “forward-looking statements” (collectively, “Forward-Looking Information”) as defined under applicable provisions of the United States Private Securities Litigation Reform Act of 1995, and Section 21E of the Exchange Act and within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact included in this news release, regarding the federal lawsuit, including the potential outcome of the lawsuit, the effect of previous efforts by the defendants on DIRTT's financial performance and the plans and objectives of management is Forward-Looking Information. When used in this news release, the words “anticipate,” “believe,” “expect,” “intend,” “plan,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and other similar expressions are intended to identify Forward-Looking Information, although not all Forward-Looking Information contains such identifying words. Forward-Looking Information, by its nature, is based on assumptions, and is subject to important risks and uncertainties. You should not rely on any Forward-Looking Information, which represents our beliefs, assumptions and estimates only as of the dates on which it was made, as predictions of future events. We undertake no obligation to update this Forward-Looking Information, even though circumstances may change in the future, except as required under applicable securities laws. We qualify all of our Forward-Looking Information with these cautionary statements.
DIRTT Environmental Solutions uses its 3D software to create prefabricated interiors. Each space is tailored to our clients' needs. Manufacturing facilities are located in Phoenix, Savannah and Calgary. DIRTT works with nearly 100 construction partners globally. DIRTT trades on Nasdaq under the symbol “DRTT” and on the Toronto Stock Exchange under the symbol “DRT”.
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