Procurri files suit against Congruity360 and its execs for contract breaches

PROCURRI BVQ : BVQ 0%announced that its two subsidiaries, Rockland Congruity and Procurri LLC are suing Congruity360 (C360), its chief operating officer Brian Davidson, and president and chief operating officer Sean Brady for breaching their contracts. C360 has sold its third-party IT maintenance business outside of Rockland Congruity, while Davidson and Brady failed to disclose confidential information and trade secrets to Rockland Congruity.

C360 has also failed to pay over US$438,031.45 due to Rockland Congruity.

To recap, the IT services provider acquired full control of Congruity via Rockland Congruity back in November 2018.

Procurri is seeking damages from Brady and Davidson of at least US$17 million, and the amount plus interest owed by C360. It is also seeking a permanent injunction to prevent Brady, Davidson and C360 from violating their contracts and sharing any confidential information relating to Rockland Congruity during the period of the trial. Another injunction will also be sought to prevent them from authorising other third-parties to perform any third-party maintenance services for C360 customers.

Shareholders will be kept updated as and when material developments occur in the suit.

Procurri's shares closed flat at S$0.29 on Friday (Oct 15).

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