SOURCE: Pinnacle Security

Pinnacle Security

August 23, 2011 20:11 ET

Pinnacle Security Brings Suit Against Former Employees Graham Wood, Kim Wyatt; Names Industry Insider Jack Inbar

Lawsuit Cites Fraud, Conspiracy and Breach of Contract as Basis for Litigation

OREM, UT--(Marketwire - Aug 23, 2011) - Pinnacle Security, a leader in the residential security industry, today announced it has filed a lawsuit against former regional manager, Graham Wood; former senior regional office coordinator, Kim Wyatt; industry insider, Jack Inbar; and their new company, Canada-based Titan Alarm. The basis of Pinnacle's lawsuit is that Wood, Inbar and Wyatt conspired together to build a new company unlawfully using Pinnacle resources and in violation of contractual and fiduciary duties.

"Pinnacle believes in robust, legitimate competition," said Kelly Walker, CEO, Pinnacle Security. "However, Pinnacle will vigorously protect its interests against those who seek to unfairly and unlawfully harm Pinnacle's business. We believe Wood and others have intentionally deceived and defrauded Pinnacle, and we will take all necessary steps to protect our company against such malicious action. We look forward to telling our story and presenting our evidence in court."

The complaint alleges that while under contract with and receiving compensation from Pinnacle for the 2011 sales season, Wood, along with Inbar and Wyatt, was conspiring to begin a new, competitive venture, Titan Alarm. Additionally, these individuals conspired to recruit Pinnacle sales representatives, in effect, using Pinnacle facilities and resources to foot the start-up cost of their new company while attempting to paralyze Pinnacle.

In addition to salary and benefits paid to Wood through his contract, Pinnacle had also expended significant money and resources into Wood's sales region, while during the same period, Wood and others worked to build Titan Alarm. Based on these and other unlawful and inappropriate actions by the defendants, Pinnacle has asserted numerous claims including fraud, breaches of fiduciary duty, conspiracy, breach of contract, interference with economic relations, and conversion.

A court date has not been assigned at this time.

About Pinnacle Security
Pinnacle Security is an industry leader in providing quality residential and commercial security solutions to help individuals realize the peace-of-mind that comes from protecting the things that matter most. Pinnacle is headquartered in Orem, Utah, and has sales offices throughout North America. For more information, please visit www.pinnaclesecurity.com.

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