A Los Angeles Superior Court judge ruled Wednesday that Precision Dynamics co-founder Walt Mosher had not proven allegations of an improper election of two members to the company’s board of directors. Following a seven-day trial, Judge Teresa Sanchez-Gordon dismissed claims challenging the election this summer of Jonathan Lasch and Robert F. Foster to the Precision Dynamics board. The decision also tossed out a claim by Mosher against Precision Dynamics Chief Financial Officer Mark Segal alleging he did carry out his duties supervising the election of board members. Additionally, Sanchez-Gordon rejected arguments that an August shareholders meeting did not follow state code requirements. Mosher, 72, filed the lawsuit in September against Segal, company President and CEO Gary E. Hutchinson and board members Robert B. Kraemer, Lasch and Foster. The case alleged a power grab for control of the privately held San Fernando company, which designs and manufacturers identification band systems. Kraemer and Hutchinson are majority shareholders in the company. The ruling leaves a number of other claims before the court: that Kraemer and Hutchinson breached their fiduciary duty by taking steps to keep Mosher from electing a board member of his choosing at the August shareholders meeting; an ouster of Lasch and Foster from the board; and a finding that Lasch and Foster breached an oral agreement with Mosher that they would step down from the board at Mosher’s request. Those issues will be determined at future hearings. An official from Mosher’s office said he was out of the country and could not be reached for comment.
