TAMPA, Fla., March 26, 2015 (GLOBE NEWSWIRE) -- PPJ Healthcare Enterprises, Inc. (OTC Pink:PPJE) is seeking input from its shareholders on the company's continuing litigation against a Santa Clarita, Calif.-based physician and former PPJE board member.
A Los Angeles Superior Court jury ruled in September that Dr. Narinder Grewal was responsible for bilking Hundreds of Thousands of dollars from Company coffers during the period of 2001-07. PPJE had sought more than $5 million in the suit, which accused Grewal of improperly obtaining the Company funds. However, jurors awarded the company only $289,000 in damages.
The Company has filed a Notice of Motion and Motion for a new trial on January 28, 2015. The Company has retained new counsel - Tredway, Lumsdaine & Doyle LLP of Long Beach, Calif. The motion is expected to be heard on April 20, 2015 in the Stanley Mosk Courthouse in Los Angeles. The Company will be posting its expert's findings of the amount owed by Grewal and documents related to the motion for new trial on otcmarkets.com for the Company's shareholders to view.
Company officials are seeking feedback from shareholders on whether PPJ Healthcare Enterprises Inc. should accept the jury's award or proceed with seeking a new trial in order to secure all the funds it contends Grewal took from the company.
Shareholders interested in offering input to company officials should send an email to info@ppjenterprise.com.
Forward-looking Statements
Information in this release may contain statements about future expectations, plans, prospects or performance of PPJ Healthcare Enterprises Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. None of the information in this press release constituted or is intended as an offer to sell securities or investment advice of any kind. PPJ Healthcare Enterprises' actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond PPJ Enterprise's control. In addition to those discusses in PPJ Healthcare Enterprises' press releases, public filings and statements by PPJ Healthcare Enterprises' management, including, but not limited to, PPJ Healthcare Enterprises' estimate of sufficiency of its existing capital resources, PPJ Healthcare Enterprises' ability to raise additional capital to fund future operations, PPJ Healthcare Enterprises' ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match PPJ Healthcare Enterprises' capability to be awarded contracts.