The
A spokesman for SCM, said, “Shareholders are bitterly distressed over the lack of transparency and respect provided by management and the board towards them. Since Ubiquity has never had a shareholders’ meeting in its multi-year existence, the
Shareholders issued a
At that time SCM stated, “We believe the management of the company has not acted in the best interest of shareholders, is in disarray and must be replaced for the company to survive. As demonstrated by the
After receipt of SCM’s written demand, Ubiquity informed the
A
In
OTC Markets suspended stock quotes for Ubiquity in 2016, labeling it “Caveat Emptor (Buyer Beware),” citing numerous possible reasons, including, “Investigation of Fraud or Other Criminal Activities” and “Promotion/Spam without Adequate Current Information.” According to SCM, “this unacceptable level of legal liabilities, including intervention by federal regulators and the
The shareholders’
Ubiquity informed the
Shareholders also demand that Ubiquity Chief Financial Officer
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/embattled-california-based-technology-company-ubiquity-inc-to-face-angry-shareholders-at-sec-enforcement-hearing-300438539.html
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