- Norman Brodeur -- the director that Adaptive Medias (OTCPK:ADTM +4.1%) terminated, saying he violated fiduciary duty -- has denied the claim in an official response to the company's 8-K.
- Brodeur denies that he breached his duty or that the company had a "for cause" reason to terminate him. He says the company hasn't provided him with any information supporting the claim and, considering that the bylaws only authorize director removal with 80% voting support, "such actions are ultra vires."
- The company says it believes the termination was justified.