Appeal court upholds ruling that Photon Control wrongfully dismissed president
August 16, 2012 - 7:07 PM
BURNABY, B.C. - Photon Control Inc. (TSXV: PHO) says a B.C. appeals court has sided against it in upholding an earlier decision that the company dismissed its former president without cause.
The company, based in Burnaby, B.C., said the court dismissed its appeal of a Supreme Court of British Columbia judgment last summer that found Photon Control had no right to unilaterally rescind a loan agreement and stop payments to John Kidder when he left the company.
It ordered the company to pay $374,562 owed to him.
The court also ruled Kidder had been dismissed without cause. It awarded him 18 months notice, payable at $130,000 per year in salary, plus the value of benefits he would have received.
Photon Control said Thursday it is considering its options regarding further appeals.
Photon Control Inc. designs and manufactures optical sensors and instruments to measure temperature, pressure, position, and flow.
News from © The Canadian Press, 2012