Award Affirmed Court of Special Appeals Upheld a $59,500 Verdict Against Two Former Directors of Network Technologies Group, Inc. John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.
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Strategic Management Partners John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.
John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.
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John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc. John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.
Award Affirmed. Court of Special Appeals Upheld a $59,500 Verdict Against Two Former Directors of Network Technologies Group, Inc.        Text
by Barbara Grzincic, Daily Record Legal Affairs Editor
 

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Award Affirmed
Court of Special Appeals Upheld a $59,500 Verdict Against Two Former Directors of Network Technologies Group, Inc.

By Barbara Grzincic
Daily Record Legal Affairs Editor

John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.
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.

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John M. Collard, Chairman, Strategic Management Partners, Inc. was interim CEO for Network Technologies Group, Inc.


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