The catalyst for the current problem began when Hitachi, as Portion of its threat administration and corporate governance in which it conducts an interior audit of its subsidiaries just about every 3 years, gave Ivan discover in Aug 2022 that it intended to do an audit on Fusionex Group and Fusiotech Holdings in March 2023.
It is believed that other ex-Fusionex executives have also been reaching out to critical government and personal sector purchasers as well, assuring them of support even though It isn't distinct by which organization.
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Hitachi positioned 5 of its executives as non-executive directors about the board with Ivan and his CFO, Chen Chiang as government directors.
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This started out a series of backwards and forwards concerning Ivan and Hitachi, outlined in its petition, through which Hitachi wanted to training its authorized legal rights as proprietors of Fusionex and with Ivan and his leadership staff providing many factors to obstruct this, chief of which was a purported ‘federal government directive’ that prevented Ivan from sharing sensitive knowledge with overseas get-togethers.