|Award Affirmed Court of Special Appeals Upheld a $59,500 Verdict Against Two Former Directors of Network Technologies Group, Inc.||
Strategic Management Partners
A nationally recognized turnaround management firm
specializing in interim executive leadership, corporate renewal,
and post acquisition support for the private equity community.
SMP Home Page
SMP Library Index - Articles of Interest - Watch List
NTG Press Coverage Summary
John M. Collard, the turnaround CEO who found fraud and liquidated now defunct NTG, said he is pleased with the decision affirming that Nora Zietz and Robert McE. Stewart were liable for negligent misrepresentation.
The Court of Special Appeals upheld a $59,500 verdict against Nora Zietz and Robert McE. Stewart, two former directors of Network Technologies Group in favor of the turnaround specialist that liquidated the telecomm construction contractor. John Collard of Strategic Management Partners, Inc. was brought in to save NTG in 2002, but discovered financial irregularities that brought the company down. He sued NTG and its directors for about $300,000. Last summer -- nearly two years after the 2004 trial -- the Anne Arundel County Circuit Court found directors Nora Zietz and Robert McE. Stewart liable for negligently misrepresenting NTG's health when they hired Collard. The Judge also rejected their claim for contribution against two other directors, who settled before trial. CEO Michelle Tobin and two other executives pled guilty to fraud in federal court following NTG's collapse.
Former NTG employees will get 401(k) money thought lost
(June 19, 2003)
Collard: Contract based on bad info (March 11, 2003)
Suit: Auditors share blame for NTG loss (March 7, 2003)
NTG's CFO admits guilt in fraud (February 28, 2003)
NTG's ex-CEO pleads guilty to fed fraud charge; must cooperate (February 21, 2003)
Even turn-around specialist was stunned by books (February 15, 2003)
Clues to alleged fraud unfold in hindsight (February 8, 2003)
Ex-NTG execs face fed fraud indictments (January 23, 2003)
We welcome constructive inquires. More information is available if required.
There is more to Strategic Management Partner's
Return to Home Page
John M. Collard, Chairman
Strategic Management Partners, Inc.
522 Horn Point Drive
Annapolis, Maryland [MD] 21403
Voice 410-263-9100 Facsimile 410-263-6094 E-Mail Strategist@aol.com.
We serve as experts for comment or quote, please contact us at 410-263-9100
We welcome constructive inquires, please send via E-Mail to: Strategist.
Copyright © 2007 Strategic Management Partners, Inc.