Ok, I can’t make head or, ehh, tails of this story out of Israel today.
Telit CEO Oozi Cats allegedy Uzi Katz wanted for fraud
In an announcement today to the AIM Stock Exchange, Israeli technology company Telit Communications plc (AIM:TCM) stated, “Telit… notes speculation regarding historical indictments in the United States of America of Telit’s Chief Executive Officer, Oozi Cats, in respect of matters which are unrelated to Telit and significantly pre-date its establishment.” The company added, “The Board of Telit has appointed independent solicitors to conduct a thorough review of this matter. Pending the outcome of this review, the Board has agreed to Cats’s request for a leave of absence from the company. Telit finance director and president Yosi Fait will serve as interim CEO during this time.”
