Sunrise settles lawsuit, names new CFO
Assisted living giant Sunrise Senior Living Inc. recently settled a lawsuit filed by Millenco, a New York-based broker-dealer, regarding the day of its annual shareholders' meeting.Sunrise disclosed its annual meeting of shareholders will take place on Oct. 16. Also as part of the settlement, the board agreed to expand the size of its board to nine members from eight, and named Millenco-nominated Lynn Krominga to the board, a Securities & Exchange Commission filing said.
The company further disclosed that it named Richard Nadeau to the position of chief financial officer. Nadeau succeeds Bradley Rush, who was terminated from his position in May. The company has been in financial turmoil over the last several months. It is currently exploring strategic alternatives, which include a possible company sale.