TradingScreen Inc. (TS), the global, multi-asset class order and execution management system (OEMS), today announced that Patrick Buhannic has voluntarily agreed to be dismissed with prejudice from all the lawsuits brought by his brother Philippe Buhannic against TradingScreen and other defendants in New York State Court and U.S. District Court for the Southern District of New York.
As a result, Philippe Buhannic is the only remaining plaintiff (representing himself pro se) in those actions.
The lawsuits, in which Patrick Buhannic, a director and co-founder of the Company, was previously a co-plaintiff with his brother Philippe Buhannic, also a director and co-founder of the Company and its former Chief Executive Officer, date back to 2016, following Philippe Buhannic’s termination by the Company’s Board of Directors for cause.
No payment of any kind was made to Patrick Buhannic by the Company or any other party in consideration for his voluntary withdrawal with prejudice from these actions.
The Company believes that Patrick Buhannic’s decision to withdraw entirely from this litigation further supports its position that the allegations in the lawsuits brought by his brother Phillippe Buhannic against TradingScreen and the other defendants are baseless, reckless and totally without merit.