GRANDPARENTS.COM CEO Steve Leber And COO Lee Lazarus Accused Of Criminal Misconduct And Securities Fraud

COMPLAINT FILED WITH SEC AND US ATTORNEY BY FORMER CEO OF THE COMPANY

Dec 16, 2015, 13:41 ET from Joseph Bernstein

NEW YORK, Dec. 16, 2015 /PRNewswire/ -- Joseph Bernstein, formerly Co-CEO, CFO, director and representative of the largest group of shareholders of GRANDPARENTS.COM, INC. (OTCQB: GPCM), announced today that he has filed complaints with the United States Securities and Exchange Commission and the Criminal Division of the Office of the United States Attorney for the Southern District of New York against CEO Steve Leber and Chief Operating Officer Lee Lazarus. This link --- www.GPCM-CEO-COO-Complaints.weebly.com -- contains copies of complaints previously submitted to the company against CEO Steve Leber and COO Lee Lazarus, who attempted to whitewash the allegations with a bogus "investigation" by a special committee of the board. That committee included director Robert Cohen, a longtime friend and partner of the CEO, who was accused of benefitting in part from a fraudulent substitution of warrants by the two executives, and director Louis Karol, a loyal friend of the CEO who wrote, "I have Steve's back." Both directors had a conflict of interest and should have recused themselves from serving on the board committee investigating the CEO and COO.

In a November 23, 2015 10-Q filing that retaliated against the CFO for informing the company's auditors of these complaints, as the CFO believed he was required by law and proper professional and ethical standards to do, the CEO and COO made it appear that that they suspended the CFO because there was an investigation of the CFO pending outcome of the investigation, rather than of the CEO and COO. This wanton, reckless conduct was meant to destroy the name, reputation and career of the CFO in order to divert attention from their own criminal acts by the CEO and COO. This unlawful conduct has also been reported to OSHA as a violation of Sarbanes-Oxley legislation prohibiting retaliatory conduct against whistleblowers. In addition, the former CFO has written the company of his claims for breach of contract and compensatory and punitive damages for defamation in excess of $10,000,000.

CONTACT:
Joseph Bernstein, Esq.
joebernstein@me.com 
917.365.3651

SOURCE Joseph Bernstein