Former Mikoh CFO sues for wrongful termination

Security technology company Mikoh (ASX:MIK) has revealed its former CFO, Ian Clark, is suing the company alleging it improperly terminated Clark’s employment contract.

Clark is seeking $190,000 plus 700,000 shares and 6 million options, including $100,000 for mental distress. The rest is in lieu of notice, unpaid incentives and superannuation.

Clark was employed by Mikoh on a part time basis, with a base salary of $160,000. He worked at the company for three and a half months until he was terminated on February 1.

Company secretary Gary Phipps said the company felt the claims “are without substance,” and intends to “defend the proceedings vigorously.”