Stimwave bankruptcy speeds up founder’s libel suit amid Broadfin-Kennedy Lewis takeover and potential recoveries
Founder claims Stimwave management and directors engaged in massive malicious libel campaign for more than 30 months
MIAMI, Florida, United States, July 18, 2022 /EINPresswire.com/ — Stimwave Technologies, which filed for bankruptcy in the United States District of Delaware Bankruptcy Court last month, File Number 22-10541 (https://bkdata.com/business-bankruptcies/delaware-delaware/06-15-2022/stimwave-incorporated-10541), stating that the company is under criminal investigation by the DOJ and that the Attorney General investigated allegedly for health insurance fraud, faces a new lawsuit from its founder, inventor and former CEO, Laura Perryman, for general libel, slander and slander.
Founder Laura Perryman’s court documents filed in Delaware Chancery Court case number 2019-1003-SG show that Stimwave’s board and management orchestrated a planned scorched earth campaign against her to devalue the company. The founder of Stimwave, holding over 100 patents, invented a non-surgical therapy option for chronic pain with a single device implanted through a needle positioned in 2019 to revolutionize the industry with an affordable alternative to help fight pain. opioid crisis. According to court filings, in late 2019, after Perryman left the company and the board, lender Stimwave Kennedy Lewis Investment Management LLC and the board released public statements intentionally to damage his reputation. , expose it to humiliation, contempt, ridicule and financial distress.
The claims of defamation, slander and slander of Ms. Perryman are brought against Stimwave CEO Auru Bruneau, Stimwave Vice President of Sales Christer Czajkowski, Stimwave Chief Operating Officer Reggie Groves, Managing Director of Stimwave, Michelle Doery, Stimwave Trainer, Jennifer Spruce, Stimwave Board Members, Marc Loev, Jeffrey. Goldberg, Paul LaViolette and former Vice President Chad Andresen. In addition to posts claiming Ms Perryman mismanaged and stole property, employees and funds, the group also reportedly published a website calling Ms Perryman a “devil”. Ms Perryman believes they have crafted defamatory statements for publication by their more than 150 representatives to clinicians, institutions, industry trade organizations and regulators around the world and are intentionally mismarketing the products it invented to encourage excessive billing.
Laura Perryman’s court papers show she argues all the allegations were unsubstantiated and fabricated in order to allow lender Kennedy Lewis to take control of the management and direction of the company and devalue the assets. Stimwave’s bankruptcy filing contemplates a sale to Broadfin and Kennedy Lewis only to repay their alleged loan funds mostly received after Perryman’s departure from the company, an amount less than annual revenues.
According to court documents filed with the Delaware Chancery Court for books and records, case number 2021-0553-SG, Kennedy Lewis allegedly heavily armed shareholders to allow them to take control of the board of directors in late 2019, then heavily controlling the placement. management and guiding the actions of a three-member board executive committee who admitted to not having produced minutes or other corporate documents for the past two and a half years. Court documents say the company was profitable and financially strong at the end of 2019 with more than $10 million in cash. Since then, according to court documents, Stimwave has engaged in Medicare billing fraud and falsified their IFU for the StimQ PNS product line. Stimwave now claims it was once an accessory should be reimbursed under a billing code for amounts over $17,000, potentially exposing clinicians and institutions to clawbacks.
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