Optec International (OTC: OPTI) is the focus of a judgment filed by California-based RB Capital Partners Inc., a private investment fund. A recent announcement noted that RB Capital was clarifying the judgment and releasing a shareholder update. According to the announcement, RB Capital observed that it was the largest investor and legitimate shareholder of OPTEC and was “forced to bring a shareholder derivative action against the company to secure our judgment, oust the failing [CEO] Roger Pawson and to try to preserve the assets of the company.” RB Capital filed the lawsuit, noting that Pawson used the company for self-dealing and mismanaged the operations of the corporation at the expense of the shareholders. The judgment was secured in November 2023; the judgment amount was $11.5 million interests and costs, which totaled $14,681,270.50 against Pawson and Optec jointly and severally.
“The court’s judgment also prohibits Pawson from serving as a director and/or CEO of Optec; prohibits Pawson from issuing any class of stock of Optec or transferring any assets of Optec to himself or any third party; prohibits Pawson from using Optec’s assets for his personal gain and to return all ill-gotten funds back to Optec, and finally, the court authorized RB Capital Partners Inc, upon application to the court, to appoint a receiver to control Optec and its assets,” said RB Capital Partners in the press release. “To date we have not sought the appointment of a receiver as we weigh the benefits of doing so, and RB Capital Partners Inc., nor any of its members, are an officer or director of Optec International Inc.”
To view the full press release, visit https://ibn.fm/cu4WL
About RB Capital Partners Inc.
RB Capital Partners is a private investment fund headquartered and incorporated in California. The main investment focus of RB Capital is on small and microcap publicly traded companies trading on the OTC Markets, NASDAQ & New York Stock Exchange. RB Capital predominantly makes debt investments and is known for paying off harmful or convertible debt, giving companies a real chance of success. RB Capital Partners does not manage any outside money nor does it have any investors. It is run and funded solely by Brett Rosen and Deborah Rosen, who each have a 50% ownership stake in the company.
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