red violet Executive Chairman Michael Brauser Steps Down from Board; Vice Chairman & CEO Derek Dubner Appointed Interim Chair...
September 10 2018 - 6:50AM
Business Wire
Red Violet, Inc. (NASDAQ: RDVT), a leading information solutions
provider, today announced that Executive Chairman Michael Brauser
has resigned from the red violet Board of Directors, effective
immediately. The red violet Board of Directors has accepted his
resignation and appointed Vice Chairman and CEO Derek Dubner
interim Chairman, effective immediately.
“It has been a great privilege to serve as the Executive
Chairman of this extraordinary company. On September 7, 2018, I was
named in an SEC civil lawsuit, along with multiple parties, in
regard to several investments I have made in the past. The
allegations against me are unrelated to, and do not involve, red
violet and are completely baseless and I will defend the case
vigorously,” stated Michael Brauser. “Notwithstanding, so that my
involvement in this suit does not serve as a distraction to the
incredible progress of the company, I am resigning from the Board
and my executive chairman position, relinquishing my management and
oversight of day-to-day activities of the company. While it saddens
me to do so, this is in the best interest of the company during
this period as it continues to expand on its path to
profitability.”
About red violet®
At red violet, we believe that time is your most valuable asset.
Through powerful analytics, we transform data into intelligence, in
a fast and efficient manner, so that our clients can spend their
time on what matters most - running their organizations with
confidence. Through leading-edge, proprietary technology and a
massive data repository, our data and analytical solutions harness
the power of data fusion, uncovering the relevance of disparate
data points and converting them into comprehensive and insightful
views of people, businesses, assets and their interrelationships.
We empower clients across markets and industries to better execute
all aspects of their business, from managing risk, conducting
investigations, identifying fraud and abuse, and collecting debts.
At red violet, we are dedicated to making the world a safer place
and reducing the cost of doing business. For more information,
please visit www.redviolet.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements," as
that term is defined under the Private Securities Litigation Reform
Act of 1995 (PSLRA), which statements may be identified by words
such as "expects," "plans," "projects," "will," "may,"
"anticipate," "believes," "should," "intends," "estimates," and
other words of similar meaning. Such forward looking statements are
subject to risks and uncertainties that are often difficult to
predict, are beyond our control and which may cause results to
differ materially from expectations. Readers are cautioned not to
place undue reliance on these forward-looking statements, which are
based on our expectations as of the date of this press release and
speak only as of the date of this press release and are advised to
consider the factors listed above together with the additional
factors under the heading "Forward-Looking Statements" and "Risk
Factors" in red violet’s Information Statement filed as Exhibit
99.1 to the Company’s Current Report on Form 8-K filed with the SEC
on March 27, 2018, as may be supplemented or amended by the
Company’s Quarterly Reports on Form 10-Q and other SEC filings. We
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20180910005260/en/
Investors Relations Contact:Red Violet, Inc.Camilo
Ramirez, 561-757-4500ir@redviolet.com
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