SolarWindow Technologies Inc (WNDW) has provided an announcement.
In a significant turn of events impacting the financial market, Mr. Harmel S. Rayat has resigned as Chairman and director of his company following a court order that bars him from serving as an officer or director of any public company. This decision is a consequence of a U.S. District Court judgment, which also requires him to pay over $1.2 million in disgorgement, interest, and penalties. Additionally, former director and officer Mr. Jatinder Bhogal consented to a judgment enjoining him from similar violations, including a 10-year ban from such roles and significant financial penalties. This development, not involving the company directly, is a stark reminder of the legal and financial ramifications of securities law violations.
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