Business Services Industry
Grand Central Files Lawsuit Against Spenst Hansen
Business Wire, April 29, 1998
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--April 29, 1998--Grand Central Silver Mines Inc. (NASDAQ:GSLM) Wednesday announced that it has filed a lawsuit in Federal District Court in Salt Lake City against its former Chairman and Chief Executive Officer, Dr. Spenst M. Hansen.
The complaint alleges certain violations of Section 16B of the Securities Act, as well as breach of fiduciary duty, the taking of corporate opportunities and self dealing.
According to a company spokesman, this action is being taken to protect the interests of the company's shareholders by seeking to recover certain assets which may be rightfully theirs.
Grand Central Silver Mines is a U.S. based exploration and development company focused on silver and base metals in Mexico and the United States.
CONTACT: Grand Central Silver Mines Inc., Coeur d'Alene
John Ryan, 208/769-7340
David Nahmias, 800/361-6914
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