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Kaplan Professional Sues Dalton Education, LLC for Misappropriation of Its Trade Secrets and an Unlawful Scheme to Steal Its Clients
LA CROSSE, Wis.–(BUSINESS WIRE)–Kaplan Professional, part of Kaplan, Inc., a global education provider,
filed a lawsuit in federal court against a competitor, Dalton Education,
LLC, for misappropriating valuable trade secrets, in support of an
unlawful scheme to steal Kaplan Professional’s clients in the financial
planning sector.
The lawsuit, filed in the U.S. District Court for the Western District
of Wisconsin in Madison, seeks immediate injunctive relief in addition
to unspecified compensatory and punitive damages from Dalton Education
and two individually named defendants.
The lawsuit alleges a scheme whereby Dalton Education recruited sales
employees from Kaplan Professional over a period of time with the
express intent of using Kaplan Professional’s confidential and
proprietary information to help grow its own business, including, among
other things, a senior-level Dalton manager intentionally soliciting a
Kaplan Professional employee to tell him confidential information in
order to “steal” business from Kaplan Professional. Both companies
provide continuing education, licensing and certification for employees
in the financial planning field and compete for the same or similar
clients.
The two individual defendants named in the lawsuit allegedly shared
highly confidential proprietary information with Dalton Education, while
still Kaplan Professional employees.
The lawsuit describes the various levels of protection Kaplan employs to
safeguard its intellectual property and trade secrets, including IT
security and Confidentiality and Restriction Agreements with employees
governing their use of company information. Those protocols were
violated, the lawsuit claims, by the defendants.
The claim against Dalton Education and the individual defendants
includes nine counts of unlawful behavior, including violation of trade
secrets, computer fraud and abuse, tortious interference with Kaplan
Professional’s prospective economic advantage, and unfair competition.
About Kaplan Professional
Kaplan is a leading international provider of training and education
services operating in more than 30 countries and working with over
10,000 corporations and businesses globally. Kaplan Professional helps
professionals obtain and maintain in-demand certifications, licenses and
designations that enable them to advance and succeed in their careers.
Through live and online instruction, Kaplan Professional provides test
preparation, licensing, continuing education, and professional
development programs to businesses and individuals in the accounting,
engineering, insurance, securities, real estate, financial planning, and
information technology industries. Kaplan, Inc. is part of the Graham
Holdings Company (NYSE: GHC).
Contacts
MEDIA:
Mark Harrad
212 974-6231
[email protected]
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Cannabis
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transfer
IMC to transfer its Oranim Pharmacy shares back to the seller
TORONTO and GLIL YAM, Israel, April 16, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is announcing that, further to the news release dated January 12, 2024, the Company has decided not to make remaining installment payments installments (i.e. NIS 5,873K including interest or 2,154K CAD) by IMC Holdings Ltd., and as such will transfer the 51% shares held by IMC Holdings Ltd back to the seller.
“With the April 1st cannabis legalization in Germany, we are focusing our resources on the German market, where we expect to see the biggest growth potential,” said Oren Shuster, CEO of IMC. “With both of our core markets, Germany and Israel, currently undergoing rapid evolution, we need to assure that we allocate our resources to the growth opportunities where we expect the best return on investment.”
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC’s products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients. Until recently, the Company also actively operated in Canada through Trichome Financial Corp and its wholly owned subsidiaries, where it cultivated, processed, packaged, and sold premium and ultra-premium cannabis at its own facilities under the WAGNERS and Highland Grow brands for the adult-use market in Canada. The Company has exited operations in Canada and considers these operations discontinued.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements”). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, the occurrence of growth opportunities and the likelihood of growth potential.
Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the development and introduction of new products; continuing demand for medical and adult-use recreational cannabis in the markets in which the Company operates; the Company’s ability to reach patients through both e-commerce and brick and mortar retail operations; the Company’s ability to maintain and renew or obtain required licenses; the effectiveness of its products for medical cannabis patients and recreational consumers; and the Company’s ability to market its brands and services successfully to its anticipated customers and medical cannabis patients.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward looking statements due to a number of factors and risks. These include: any failure of the Company to maintain “de facto” control over Focus Medical in accordance with IFRS 10; the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the effect of the reform on the Company; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical (collectively, the “Group”) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East
Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made.
The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Company Contacts:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
[email protected]
Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/imc-to-transfer-its-oranim-pharmacy-shares-back-to-the-seller-302117984.html
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