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Securities

Feb. 19, 2025

Garda Security faces claim it breached shareholder rights

Owner of video surveillance company acquired by Garda Security Inc., claiming the company violated his shareholder rights by acquiring Stealth Monitoring Inc. through a subsidiary to bypass a non-compete agreement.

A new lawsuit in Los Angeles claims that Garda Security Inc. violated an affiliate shareholder's rights by acquiring video surveillance firm Stealth Monitoring Inc. without his consent.

Plaintiff Christopher Coffey, whose video surveillance business, eCam, was purchased by Garda in 2019, said Garda used a subsidiary to circumvent an agreement not to purchase businesses that compete with his.

"After failing to obtain the requisite consent from Coffey, Garda blata...

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