The first step in the legal proceedings was the complaint filed by ex-chief executive Daniel Titcomb and some other former Jaguar Mining officers, claiming the wrongful termination of Mr Titcomb's employment and the mismanagement of a strategic review in 2012 about a possible change of control at the company. In reply, the company and some existing officers have filed a defence and counterclaim in the US District Court at New Hampshire. The counterclaim alleges the breach of fiduciary duty and fraud against Mr Titcomb and Mr Lloyd, according to Wall St Journal Online.
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