Arcturus Therapeutics Initiates Lawsuit Against Joseph E. Payne to Protect the Interests of Arcturus Shareholders

Arcturus Therapeutics (NASDAQ:ARCT), a leading RNA medicines company, today initiated a lawsuit in San Diego Superior Court against former President and Chief Executive Officer (CEO), Joseph E. Payne, who was dismissed from Arcturus as of February 1, 2018, seeking damages and injunctive relief. The lawsuit outlines Mr. Payne’s misconduct, poor judgment and bad decisions during his tenure, and details his self-dealing and inappropriate business conflicts of interest.

As quoted in the press release:

Arcturus said: The Executive Committee of our Board is unanimous in its belief that Mr. Payne demonstrated poor judgment and made poor decisions during his tenure and continues to have significant concerns regarding his apparent collusion and self-dealing. We have uncovered multiple instances where Mr. Payne attempted to deceive, manipulate and lie to our shareholders, partners and other stakeholders. In fact, following repeated requests from Arcturus and our attorneys, we recently received his Company-issued cell phone, more than two months following his termination. The device had been reset to its factory settings.

Click here to read the full press release.