litigation
confidence high
sentiment negative
materiality 0.55
Ozop subsidiary terminates employees for cause, files lawsuit for alleged fraudulent scheme
OZOP ENERGY SOLUTIONS, INC.
- Terminated Chris Serna, Christian Rodriguez, Alana Dixon, Dario Rodriguez, Rudy Lopez on Nov 3, 2022.
- Lawsuit filed Nov 14, 2022 in California Superior Court against former employees and Your Home Solution Corp.
- Alleges employees used secret company to buy Ozop products at discount and resell to customers at markup.
- Company asserts product sales for Q4 2022 are on forecast and 2023 orders secured despite allegations.
- Ozop says subsidiary is positioned for long-term positive cashflow after removing the accused employees.