Yes John Scribante... You are going down.
The company officers... You are going down.
The board of directors... You are going down too.
It's civil for now and likely may become criminal, your actions certainly are.
Hopefully all of you will spend the next ten years in prison.
Class action suit initiated.
June 29, 2016 / Levi & Korsinsky announces it has commenced an investigation of Orion Energy Systems, Inc. (OESX) concerning possible breaches of fiduciary duty by the board of directors of the company.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Every shareholder that doesn’t work at Orion will undoubtedly join in this action.
Announced at 2:00 today:
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Involving Possible Breaches of Fiduciary Duty by the Board of Orion Energy Systems, Inc. - OESX
Don't know anything about this law firm or anything deeper at this point.
Our decision to freeze long-term equity incentive restricted stock awards for each of our NEOs for fiscal 2017 (other than Mr. Scribante, who received a modest additional restricted stock award), with long-term
equity compensation grants being set at the same dollar values as approved in fiscal 2016. The long-term equity incentive restricted stock awards for each of our NEOs were frozen for fiscal 2017 due to our recent financial performance and condition and recent stock price in fiscal 2016.
just went home at 9 am and just saw john leaving the subdivision going to work i guess. i did smile at him when i drove by.
you should read. .hull gets 1000 a month car allowance. and 50000 for moving to chicago. if you go to the meeting ask how certain employees not listed get performance bonuses. but what kind of performance?
again in lawyers office. if you want to go you need to register at the investors relations on the orion energy web sight. . need to fill out form. need to do asap. i know youbwont be invited but you need to register.
cash from selling a building and some land was said to be used for growth. in all likelyhood it is to fund day to day expenses in order to keep hanging on by a thread
Sentiment: Strong Sell
I agree that there are going to be cash concerns coming and the next infusion will be very costly. I am not completely sold on your turn-around comment, but I do think that somebody who has previously navigated a major technology shift would be invaluable. A turnaround person without that experience won't be able to simply cut their way out of the hole. I fear it might be to late. Look at us agreeing on something.
Further proof the board of directors provides no oversight for this company. John Scribante and all current management should have been eradicated by the board long ago. Orion needs a proven turn around team, without that no bank will loan the company money and Orion will be out of business by this fall.
Pretty consistent message on Glassdoor these days:
"Not a Good Company to work for"
Former Employee - Anonymous Employee
Disapproves of CEO
A few very good employees who work hard and help others
Management is NOT trustworthy. Not very transparent with employees, although pushes the idea of being able to attend any meeting you'd like(you can not). Bad culture will reveal itself within weeks of starting. Everyone seems to gossip about everyone else. Not stable for newer employees. You will see long time employees resigning every few weeks. Cuts costs everywhere except management perks. As a previous poster mentioned they are very selective in who they hire. However, you will be fired if you are not who they truly want in a role. I was not fired but leaving Orion is one of the best career decisions I've made.
Advice to Management
I am unsure of how management can overcome their current situation.
Sam. You have just illustrated the hallmark of a poorly managed and failing company.
1. All chiefs and few Indians, cutting from the bottom while adding to the top and giving themselves
ever more riches.
2. Hiring their friends, girlfriends etc always unskilled and grossly overpaid.
3. Management blinded by greed and focused only on themselves with no oversight from a board with
the same deficiencies.
4. Failing miserably at the hands of grossly over top heavy management.
5. No correlation between performance and pay for management. Failing ... give themselves huge
salaries, financial bonuses and perks.
6. Never work weekends even when the company if failing. The parking lot is always empty by Friday
afternoon and all weekend.
7. Evidently anything John Scribante touches he ruins. It would be great if you could prove otherwise
but you don't have it in you.
Nice job John Scribante and all of you in Orion management and the board, really nice job. The company hasn’t made even one cent in the past four years you have been in control. You have taken Orion from over a one hundred million company to a sixty million money losing failure.
John Scribante, please tell all shareholders why Orion is failing under your control? Please tell us where are the wonderful returns on our investment you promised when you took control of this company? And John, please tell us why you and your management team are constantly rewarding yourselves with massive amounts of our money for failing at the jobs you where hired to do?
orion as a company i think is a profitable company if run properly. in my opinion too much top management more interested thinking with the wrong head. and your paying for this.