Acacia Research Corp. disclosed the completed findings of its internal investigation into former Chief Executive Clifford Press and whether he misappropriated corporate funds and resources for personal use.
The results, announced in a regulatory filing Friday, confirmed initial findings revealed by the company in December that Press provided inaccurate information regarding certain corporate expenses, misused funds, and made misrepresentations to the company’s board of directors, according to Acacia. These actions resulted in Press violating the company’s code of conduct, Acacia determined.
