Groundbreaking Legal Battle in Fallacara vs. inTEST Corporation: Virtual Hearing Set for January 2025
Unprecedented Whistleblower Case to be Heard Virtually in January 2025
inTEST Corporation (NYSE:INTT)
MIAMI, FL, USA, May 23, 2024 /EINPresswire.com/ -- The legal proceedings in the case of Fallacara & Spiegel vs. inTEST Corporation, Nick Grant and Greg Martel, will commence with a virtual formal hearing on January 20, 2025. The case, overseen by Administrative Law Judge Jerry R. DeMaio of the US Department of Labor, addresses allegations of retaliation under the whistleblower protection provisions of the Sarbanes-Oxley Act (SOX). UNITED STATES DEPARTMENT OF LABOR- OALJ Case No: 2024-SOX-00025, 2024-SOX-00026 -AGENCY CASE NO: 3010300747, 3010300748Jean Fallacara and Helene Spiegel, the plaintiffs, allege that inTEST Corporation and its representatives engaged in fraudulent activities and retaliatory actions following the sale of Fallacara’s company, Z-Sciences, to inTEST. The plaintiffs claim that inTEST failed to fulfill its promises regarding employment agreements and restricted stock compensation, violating federal securities, employment, and immigration laws.
Key Allegations:
- Fraudulent Misrepresentation: inTEST Corporation is accused of making false promises regarding employment and stock agreements to secure the sale of Z-Sciences at a lower price.
- Retaliation: Fallacara and Spiegel allege that inTEST retaliated against them for raising concerns about the company's fraudulent conduct and failure to comply with legal employment obligations.
- Wire and Securities Fraud: The complaint details multiple instances of wire fraud and securities fraud, highlighting inTEST’s failure to provide legal employment status, which prevented Fallacara from fulfilling conditions to obtain restricted stock.
- Violations of SOX Section 303: inTEST is accused of filing misleading financial reports to shareholders, thereby violating Section 303 of the Sarbanes-Oxley Act.
Key Dates and Deadlines:
1. Initial Conference: Parties must convene for the initial conference by May 28, 2024.
2. Initial Disclosures: All initial disclosures, including expert testimony, must be submitted by June 4, 2024.
3. Exhibit Exchange: The initial exchange of exhibits is scheduled to be completed by July 12, 2024.
4. Discovery Close: The discovery period will close on December 20, 2024.
5. Prehearing Statement: A joint prehearing statement, including stipulated and disputed facts, issues of law, witness lists, and document lists, must be finalized and filed by January 10, 2025.
The virtual trial will address these pivotal issues in labor and securities law, emphasizing the importance of compliance with SOX whistleblower protections. The proceedings will adhere strictly to the applicable rules of procedure and filing instructions specified in the prehearing order dated May 14, 2024.
This case is expected to set a significant precedent in virtual legal proceedings and whistleblower protections under the Sarbanes-Oxley Act. For more information on the case and upcoming deadlines, refer to the prehearing order issued on May 14, 2024.
Emma Rode
Lifespanning Company
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