Unhappy Director Seeks Changes for Veritec Inc.

A big shareholder of Veritec Inc., the Chatsworth marketer of identification symbols similar to bar codes, plans to seek management changes at Veritec because he is unhappy with the company’s performance.

Thomas Hurner, a Minnesota resident who has 1.25 million shares of Veritec’s common stock, or a 6.6% stake, was named a company director in January. Hurner said Veritec has been unre sponsive to his request for annual meetings, and he noted that he “favors some changes in the company’s management,” according to a Securities and Exchange Commission filing.

Jack Dahl, Veritec’s chief financial officer, said company managers met with Hurner last week to address his complaints. However, Dahl said management changes are unlikely because most of Veritec’s stock is held mainly by management and friends. Dahl said the firm has not held annual meetings because of a lack of finances.