(PRWEB) March 22, 2005
A lawsuit has been filed in the Los Angeles Superior Court against Pop N Go, Inc., as well as its CEO, Melvin Wyman, which alleges that Pop N Go, Inc. is now responsible for paying a portion of a judgment owed by Melvin Wyman. The lawsuit, known as a creditorÂs suit, alleges that Pop N Go, Inc. was required to pay to the judgment creditor of Melvin Wyman, a portion of the wages and earnings owed him. The lawsuit alleges that Pop N Go, Inc. did not comply with such orders, and that it is now obligated to pay the funds to the judgment creditor that it had previously paid to its CEO, Melvin Wyman. The lawsuit also seeks a recovery of punitive damages against Pop N Go, Inc., as well as the other defendants. Additionally, Mr. Wyman, has currently defaulted on the Debtor's Conference Agreeement reached with the Judgment Creditor Assignee, where the CEO agreed to pay a combination of stock and money, resulting in signifigant additional liability for Pop N Go, Inc., and Melvyn Wyman under the extant judgments.
Click here for a link to court records concerning the Creditor's Suit VC 042352
It is not a crime to owe money to others, but it naturally raises questions as to whether one should manage a publicly traded company when one, as it appears here, has not paid a judgment taken against him. Mr. Wyman, as CEO of a publicly traded company, should disclose to the general public the true facts concerning the existence of this judgment. If he has not paid this debt, then he should provide a public explanation as to why he has not done so.
As well, it raises questions as to the internal corporate audit controls of Pop N Go, Inc., and their role in establishing proper guidelines for ethics and proper corporate governance.
For further information or comments contact:
Judgment Creditor Assignee