Business Services Industry
Diamond Discoveries Chairman Vows to Fight Civil Lawsuit
Business Wire, August 19, 2002
Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 19, 2002
Ted Pangia, chairman and CEO of Diamond Discoveries International Corporation (OTCBB:DMDD) has vowed to fight a civil lawsuit brought by the U.S. Securities and Exchange Commission (SEC).
Pangia was named a co-defendant in an SEC lawsuit filed against Environmental Solutions Worldwide Inc. earlier this month which seeks, among other things, to have Mr. Pangia barred from serving as an officer or director of a publicly traded company.
"I will vigorously defend myself utilizing the judicial system as a forum for truth," Pangia said. "It's also important to note that this complaint makes no allegations regarding Diamond Discoveries International or its business operations."
Diamond Discoveries International is a Delaware company that owns mineral exploration permits for the exploration of 130,000 acres in the Torngat Region of Quebec, Canada.
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