By Ben Glickman
Mawson Infrastructure Group will withhold certain payments from its founder and former chief executive after an investigation concluded he seems to have not disclosed related party transactions.
The Pittsburgh-based digital infrastructure company said in a regulatory filing Friday that the board had resolved not to pay James Manning certain restricted stock units and equity grants provided for in his separation agreement.
The company launched an investigation into the former CEO and board member in the third quarter of 2023. The investigation was related to Manning’s potential failure to disclose certain transactions.
Manning stepped down as CEO in May 2023.
Mawson said in the filing that there was “a prima facie basis” to conclude Manning didn’t fully and property disclose related party transactions after the investigation by the board’s audit committee.
The company said the conclusion was reached using obtained information and the fact that Manning has repeatedly refused to fully disclose related party transactions or confirm the accuracy of prior disclosures.
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