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Terminated executive claims company lied to him about ownership stake

Lawsuits

By John Suayan | Oct 26, 2018


HOUSTON – IOT-eq, LLC has been sued by a former executive who alleges the company misrepresented to him that he was entitled to equity, per recent Harris County District Court records.

A lawsuit filed on Oct. 23 in the 269th District Court claims that IOT-eq; Blake Burnette, founder and CTO; and Richard Godfrey, CEO, promised then-chief strategy officer Christopher Landrum 10 percent of the company. Landrum was also supposed to receive $80,000 per year from his Sept. 6, 2017 hiring date.

According to the original petition, the defendants had the plaintiff placed on administrative leave in order to avoid giving him the ownership interest and equity. Landrum asserts that he was placed on leave because he questioned IOT-eq’s accounting practices.

The plaintiff was ultimately terminated last Aug. 27 for “completely different reasons than why he was put on leave,” the suit says.

Consequently, he seeks more than $1 million in damages and a jury trial.

Shane McClelland of the Law Offices of Shane McClelland, LLP in Katy is representing the complainant.

Harris County 269th District Court Case No. 2018-76967

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