Latest news with #Khoshbin
Cision Canada
06-06-2025
- Business
- Cision Canada
/C O R R E C T I O N from Source -- Ario Khoshbin/
In the news release, Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium, issued 16-May-2025 by Ario Khoshbin over PR Newswire, we are advised by the source that the second paragraph has been updated. The complete, corrected release follows: Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America and is the manufacturer of the globally recognized dermal filler brand Revanesse®. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court.
Yahoo
06-06-2025
- Business
- Yahoo
/C O R R E C T I O N from Source -- Ario Khoshbin/
In the news release, Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium, issued 16-May-2025 by Ario Khoshbin over PR Newswire, we are advised by the source that the second paragraph has been updated. The complete, corrected release follows: Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America and is the manufacturer of the globally recognized dermal filler brand Revanesse®. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court. View original content: SOURCE Ario Khoshbin View original content: 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
16-05-2025
- Business
- Yahoo
Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium
TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court. View original content: SOURCE Ario Khoshbin View original content: Sign in to access your portfolio
Cision Canada
16-05-2025
- Business
- Cision Canada
Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium
TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court.
Yahoo
07-04-2025
- Automotive
- Yahoo
Manny Khoshbin Sells One-Off McLaren Speedtail Hermès Edition to Japanese Collector
Read the full story on Modern Car Collector Real estate tycoon and supercar aficionado Manny Khoshbin has sold one of the most unique cars in his renowned garage: a one-of-one McLaren Speedtail Hermès Edition. The multi-million-dollar hypercar, crafted in collaboration with the luxury French fashion house, has been shipped to a collector in Japan following a private offer Khoshbin says he 'couldn't refuse.' The ultra-exclusive Speedtail was number 24 of just 106 units produced and was extensively customized to Khoshbin's vision. Drawing inspiration from Hermès' iconic Parisian flagship address at 24 Faubourg Saint-Honoré, the car featured bespoke brown leather trim throughout, creamy-white accents, and the kind of artisanal detail usually reserved for haute couture. Despite the visual spectacle, it wasn't enough to keep Khoshbin behind the wheel. 'It just didn't do it for me under the hood,' he said in a recent social media post. 'The V8 hybrid had some issues early on with the wireless charger. They got sorted eventually, but every time I walked past the car, it didn't get me excited.' Khoshbin, known for his discerning automotive taste and luxury lifestyle, added that the Speedtail lacked the emotional punch of other hypercars in his fleet, like his McLaren P1 or one-off Pagani Huayra—also finished with Hermès touches. Though the sale price wasn't disclosed, the custom Speedtail was initially valued north of $2.5 million. While one hypercar departs, others are surely on the way. Khoshbin still owns one of only two Bugatti Bolides in the U.S., alongside an all-white Rolls-Royce fleet and a Hermès-edition Chiron. As for the Speedtail, it's starting a new chapter in Japan, where it will join another high-end collection. 'Some cars you collect,' Khoshbin said. 'Others you connect with.' Follow us on Facebook and Twitter
