OTHER NEWS - June 5, 1992
From Times Staff and Wire Reports
Environmental Firm Faces Proxy Fight: An investor group is suing Security Environmental Systems, a Garden Grove waste disposal firm, with the intention of removing the company’s managers and directors, according to a document filed with the Securities and Exchange Commission. The investor group, which filed suit against the company in Delaware, claims the company conducted invalid stock issuances to three of its managers: Alfred Grossman, Stephen Grossman and Jonathan Grossman. The group holds about 9.2% of the company’s stock, or 1.1 million common shares, and said it intends to elect three of its members to the board of directors through a proxy contest.
