Dan Titcomb Sues Jaguar Mining and Certain of its Directors for Wrongful
Termination. Jaguar to Pursue Counterclaim
JAG - TSX/NYSE
BELO HORIZONTE, Brazil, June 28, 2012 /CNW/ - Jaguar Mining Inc. (TSX: JAG)
(NYSE: JAG) today announced that Daniel Titcomb, the Company's former
President and Chief Executive Officer, has filed a lawsuit against the Company
and three of its directors in connection with the termination of his
employment as the President and Chief Executive Officer of the Company. Mr.
Titcomb was terminated on December 6, 2011.
Among other things, Mr. Titcomb is alleging that his termination occurred as a
result of a change of control and is therefore entitled to three years of
compensation plus three years of bonus. He is also claiming an unspecified
amount of damages under applicable New Hampshire employment laws. Jaguar and
its directors believe the claim to be without merit, will vigorously defend
this lawsuit and will take any steps necessary to protect Jaguar's
interests. Jaguar also intends to proceed with a counterclaim against Mr.
Titcomb for, among other things, breaches of his fiduciary duties to the
Company prior to his termination.
About Jaguar Mining
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and is developing the Gurupi
Project in Northern Brazil in the state of Maranhão. The Company is actively
exploring and developing additional mineral resources at its approximate
240,000-hectare land base in Brazil. Additional information is available on
the Company's website atwww.jaguarmining.com.
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-0- Jun/28/2012 22:53 GMT
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