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Bullboard - Stock Discussion Forum Applied DNA Sciences Inc APDN

Applied DNA Sciences, Inc. is a biotechnology company. The Company is engaged in developing and commercializing technologies to produce and detect deoxyribonucleic acid (DNA) and ribonucleic acid (RNA). The Company operates through three segments: Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services. Therapeutic DNA Production Services... see more

NDAQ:APDN - Post Discussion

Applied DNA Sciences Inc > Applied DNA Sciences, Inc. Loses Appeals on Former Employees
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Post by turner20001 on Sep 26, 2023 1:44pm

Applied DNA Sciences, Inc. Loses Appeals on Former Employees

The California Unemployment Appeals Board has ruled against Applied DNA Sciences, Inc. (OTCBB:APDN) in its effort to disqualify three former employees from receiving unemployment insurance benefits under section 256 of the California Unemployment Insurance Code. APDN, presently based in Stony Brook, New York, claims to offer botanical DNA-based protection against counterfeiting, fraud, identity theft and similar illegal acts.

“Two of the three former executives worked for several months without pay, out of loyalty to the company and promises based on supposedly groundbreaking technology provided by Biowell Technologies Inc. of Taiwan, and the third remained in employment limbo. After terminating the employees without explanation, APDN claimed that the employees were separated from their jobs because of fraudulent activity,” says Peter M. Kunstler, attorney for the claimants. “The Appeals Board agreed that fraud and collusion are false charges. We believe the terminations actually resulted from an array of breaches by both old and new management.”

Kunstler, of the law firm Makarem & Associates APLC, is preparing for the May, 2007 trial of a civil suit against APDN on behalf of four former employees, based on breach of contract and violations of California Labor Law.

APDN hired the claimants in 2003 and 2004. Concerns over their employment status and changes in the direction of the company led the claimants to request written severance agreements. The COO/Acting CFO/Contracts Manager of the company, Karin Klemm, executed Addenda to the claimants’ employment contracts, which new management contended were fraudulently procured. This was the basis for APDN’s challenge which the ALJ overruled in the decision confirmed by the Appeals Board.

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