Walter Mosher will continue to serve on the board of directors of Precision Dynamics Corp. as part of a settlement of legal actions Mosher took against the company that he helped start. Mosher will remain as a shareholder of the San Fernando-based developer and manufacturer of identification wristbands used in the health care and hospitality industries and represent the company through its many community and charity activities in the San Fernando Valley. In a prepared joint statement, Mosher and Precision President and CEO Gary Hutchinson said they were pleases to reach the agreement. “Having served the company with distinction for over 50 years as its pioneer and founder, Dr. Mosher has earned our significant gratitude, appreciation and respect,” Hutchinson said in the statement. Mosher launched legal challenges against Precision executives and board members in 2006 and 2007 alleging a power grab to control the company and the investment in Precision by a Chicago equity firm that gave it controlling interest. A Los Angeles Superior Court judge would later deny an injunction against the investment and other challenges by Mosher to the make up of the Precision board were not successful. Mosher founded Precision Dynamics in 1956 with three investors. The company is one of the largest manufacturers in the San Fernando Valley, employing 500 people in both San Fernando and Mexico facilities.
