SolarMax Technology to Mount Vigorous Defense to Lawsuit Filed by Terminated CFO

Green Technology Leader Vows to Protect Reputational Assets

RIVERSIDE,
CA / ACCESSWIRE / July 7, 2015 / Demonstrating the do-the-right-thing business philosophy that helped grow
the company from a fledgling upstart in 2008 to one of the leaders in the solar
energy installation field, SolarMax Technology, Inc. plans to aggressively
defend itself from recent claims levied by a former employee who was terminated
with cause last year. The Riverside,
California-based company announced that it will challenge allegations of
impropriety raised by the individual as part of a wrongful termination
complaint he filed in Los Angeles Superior Court.

The
disgruntled former employee makes a number of accusations related to how
SolarMax Technology managed reporting requirements associated with a
government-approved jobs initiative. The
long-established program, which encourages foreign investment in the United
States and has been a successful catalyst for job creation, enables businesses to access critically
important operational and growth capital. 

Independent
auditors from a world-ranked, top 10 accounting firm have conducted annual financial
audits of SolarMax Technology. No illegal
or unlawful behavior has been found. The
firm, which worked with the plaintiff prior to his termination, has also renewed
its engagement with the company.

SolarMax
Technology Executive Vice President Ching Liu said, “We take our
responsibilities as financial stewards of investor capital very seriously.”

She
added, “Because litigation is now underway, we will not have any further comments
regarding the details of the case. However, we have a firm, accurate grasp of the facts involved and are
confident that once they come out, we will prevail.”

An
active community partner throughout the Inland Empire and Southern California,
SolarMax Technology maintains strong ties to education, business and civic
causes – notably  those focused on developing the next generation of leaders
within clean tech. The renewable energy innovator
funds a substantial endowment at the University of California-Riverside School
of Business and has donated an estimated 800 thousand dollars worth of solar
panels to the UCR Center for Environmental Research & Technology
(C-CERT). 

In
addition, SolarMax Technology is preparing to launch a new workforce development
initiative in San Bernardino County, where the secondary school dropout rate
remains high. Its SolarMax Technology University curriculum will
teach youngsters under the age of 18 the skills needed to find good-paying jobs
within the clean tech industry.

Ms.
Liu says, “With the dedication and support of our investors, our Board,
management, employees, the community – and, most importantly, our many
customers – we have established a culture of integrity and innovation that has
made SolarMax Technology the success it is today. We owe it to our partners and stakeholders to
uphold that reputation.”

CONTACT:

Ching Liu
(951) 300-0788
chingl@solarmaxtech.com

SOURCE: SolarMax Technology, Inc.

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