http://www.biofuelsdigest.com/blog2/2008/05/30/former-imperium-renewables-commodities-trader-sues-for-12-million-over-back-pay-4/ The world's most widely-read biofuels daily Wed, 18 Nov 2009 17:30:24 +0000 http://wordpress.org/?v=2.8.4 hourly 1 http://www.biofuelsdigest.com/blog2/2008/05/30/former-imperium-renewables-commodities-trader-sues-for-12-million-over-back-pay-4/comment-page-1/#comment-1525 Greentech Media: Green Light » Blog Archive » Former Employee to Imperium: You’ve Been Served Fri, 30 May 2008 17:37:51 +0000 http://biofuelsdigest.com/blog2/2008/05/30/former-imperium-renewables-commodities-trader-sues-for-12-million-over-back-pay-4/#comment-1525 [...] January was a tough time for the Paul Allen-back company. Within a span of three weeks, Imperium stepped back from a planned $345 million IPO, kicked out CEO Martin Tobias, and laid off most of its corporate work force. Also canned were a three plant expansion plan, of which included a signed $90 million contract with Hawaiian Electric. Imperium has responded to the lawsuit by saying Orr was fired because the company experienced a cash shortage at the end of 2007 (despite raising $213 million in VC and debt financing that year), and his operations were closed down to free up some extra capital. [...] [...] January was a tough time for the Paul Allen-back company. Within a span of three weeks, Imperium stepped back from a planned $345 million IPO, kicked out CEO Martin Tobias, and laid off most of its corporate work force. Also canned were a three plant expansion plan, of which included a signed $90 million contract with Hawaiian Electric. Imperium has responded to the lawsuit by saying Orr was fired because the company experienced a cash shortage at the end of 2007 (despite raising $213 million in VC and debt financing that year), and his operations were closed down to free up some extra capital. [...]

]]>