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Former Employee Alleges Record Technology Inc.'s CEO Mismanaged Profit-Sharing Funds

SOUTHERN CALIFORNIA RECORD

Thursday, November 21, 2024

Former Employee Alleges Record Technology Inc.'s CEO Mismanaged Profit-Sharing Funds

State Court
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Jorge Rocha, a long-time employee, has taken legal action against his former employer, alleging a breach of trust and financial misconduct. On October 8, 2024, Jorge Rocha filed a complaint in the Ventura Superior Court against Record Technology, Inc., Donald MacInnis, and other unnamed defendants. The lawsuit accuses them of fraud, breach of fiduciary duties, conversion, negligence, and other serious allegations related to the mishandling of a profit-sharing plan.

Rocha's complaint details his nearly 37-year tenure at Record Technology, Inc., located in Camarillo, California. During this time, contributions were made to a Profit Sharing Plan on his behalf. However, Rocha claims that these funds were not properly managed or deposited by the defendants. Instead, he alleges that Donald MacInnis and others illegally diverted these funds for their own use. "Plaintiff is informed and believes," states the complaint, "that while Jorge Rocha was employed with Record Technology...defendants improperly failed to deposit funds into...the Profit Sharing Plan."

The lawsuit further accuses MacInnis and unnamed co-defendants of concealing these actions from Rocha until after his termination in April 2024. Despite requests for documentation and the release of funds due to him from the Profit Sharing Plan, Rocha asserts that the defendants have refused to comply. This concealment forms the basis for several causes of action including fraud - concealment and breach of fiduciary duties.

Rocha seeks various forms of relief from the court: compensatory damages according to proof; punitive damages due to what he describes as malicious conduct; an accounting to ascertain the exact amount misappropriated; appointment of a receiver to manage any remaining assets in the Profit Sharing Plan; declaratory judgments affirming his ownership rights over said funds; and injunctive relief preventing further dissipation or misuse by defendants.

Representing Jorge Rocha is attorney Garry S. Malin from the Law Offices of Garry S. Malin APC. The case is being overseen by Ventura Superior Court under Case ID 2024CUFRO031780.

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