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This profile was last updated on 11/15/06  and contains information from public web pages and contributions from the ZoomInfo community.
 
Background

Employment History

13 Total References
Web References
EventParking.com
www.eventparking.com, 15 Nov 2006 [cached]
Marc Potash4630 Montgomery Ave, Suite 520Bethesda, MD 20814866-895-9200 (tel)815-327-1151 (fax)
Association Members | Neediest Kids
neediestkids.org, 21 Nov 2013 [cached]
Mark Potash, SecureNet, LLC
Then, there is Marc Potash, ...
www.capital-private-equity.com, 2 April 2012 [cached]
Then, there is Marc Potash, the former CEO and founder of SecureNet, a payment processor. Potash claims he was duped into selling 52% of SecureNet to Sterling Partners in 2010, and filed a $ 375 million lawsuit against the PE firm. The Baltimore-based PE firm agreed to pay $ 56 million to Potash for the stake, plus two installments of $ 15 million and one of $ 10 million, if the company hit certain EBITDA targets, according to legal documents.
"I was completely misled from start to finish," Potash told peHUB. "It was really like a modern day heist."
Potash said he was "stripped" of his powers as CEO of SecureNet once the deal closed in September 2010, the court documents say. Potash was removed as CFO and as head of SecureNet's technology at the first post-closing board meeting, the documents say. Potash also claims his role was reduced to a sales position until he was eventually replaced in August 2011.
"Sterling concealed its intent not to pay Potash any monies beyond the initial payment, to immediately remove him as CEO and to terminate him in order to avoid payment of the installments," the complaint says.
Potash's suit alleges Sterling promised that SecureNet would have access to its "BVA Program" once the deal closed. The program, a series of firm-wide best practices and processes developed by the PE firm over 25 years, was shared with all of Sterling portfolio companies, the documents say. The methodology helps "talented and successful entrepreneurs" and is a "key element" of Sterling's success, according to the complaint. But Sterling, once it acquired SecureNet, never made the program available to Potash, the documents say.
Sterling also hired numerous individuals to boost SecureNet's infrastructure. Because of this Potash claims the company couldn't achieve the EBTIDA milestones, according to court documents. In November 2011, Sterling fired Potash "for cause," according to court documents (Potash allegedly lied to two SecureNet customers, used company funds to pay for his wife's car expense and used company funds to pay for his own attorney fees after being told not to, the document says).
Potash, according to the documents, claims Sterling's allegations are without factual basis and a way for the PE firm to avoid paying him any of the installment payments required under the Unit Purchase Agreement.
The lawsuit, filed March 14 in Baltimore City Circuit Court, includes counts of fraud, breach of contract, negligence as well as tortious interference. Potash is seeking a total of $ 375 million, which includes $ 82 million in actual damages, according to Andrew Hall, of Hall, Lamb and Hall, which is representing the ex-CEO.
Hypercom - Press Releases
www.hypercom.co.uk, 30 April 2008 [cached]
"Our customers want their transactions processed quickly and securely which is why we chose HBNet," says Marc Potash, CEO and President of SercureNet Payment Systems.
NATIONAL POST
www.nationalpost.com, 10 Sept 2002 [cached]
That way, you avoid the search hassle, the on-the-spot cash outlays, and any safety concerns," says Dr. Marc Potash, president and chief executive of Event Parking, the Atlanta-based company that offers online parking.
Gone is the hassle of paying for parking and finding a parking spot.Next to go is parking itself.Robotic Parking has developed the Modular Automated Parking System, which unites the computer age with mechanical lifts, pallets and carriers to take cars where they have never gone before.Drivers pull onto a pallet in the parking lot, turn off the engine and leave.Their car is transported, automatically, through the garage to an open parking space.To retrieve the vehicle, the driver inserts a parking cheque into a computerized reader, signalling the system to return the vehicle to the bay.
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