The former CEO of a publicly traded company embroiled in a stock market controversy is urging shareholders to take action against the board that dismissed her.

Sara Murray has faced accusations from Big Technologies, which claims she has “extracted significant sums” from the firm through offshore entities. In her view, the board is “not serving the shareholders’ best interests” and is “unsuitable for its role.”

In a bid to reclaim her position in the firm she established, Murray has reached out to select shareholders, urging them to oppose certain resolutions scheduled for a vote at the company’s annual meeting in Hertfordshire next Wednesday.

In a letter obtained by The Times, Murray asserted that the decision to terminate her employment led to a “needless and significant drop” in the company’s share price.

Big Technologies, which delivers electronic location-tracking services to law enforcement, probation services, and social care sectors under the Buddi brand, has alleged that Murray had undisclosed ties to four offshore firms. These entities reportedly earned nearly £113 million when Big went public in 2021.

The company claims that Murray’s actions violated stock market regulations. She was removed from her position at the end of March, and subsequent legal actions against her have been initiated. The Takeover Panel, responsible for regulation in this context, is conducting an investigation.

This letter marks Murray’s first detailed response since her dismissal. She stated unequivocally that she does not “own or control any of the companies mentioned,” but did not address the claims linking those firms to a family trust associated with her.

Murray expressed that she retains support from “key customers” despite a barrage of detrimental allegations against her, asserting that the board’s actions have precipitated a significant decline in share prices. She emphasized her deep understanding of the business and her vision for its future.

In her communication, she raised issues regarding what she deemed excessive pay packages for board members and executives, including additional payments received by chairman Alexander Brennan, which she believes represent a conflict of interest making his role “untenable.”

Moreover, she alleged that the board either sanctioned or was complicit in the unlawful hacking of her personal Dropbox account.

Big Technologies firmly rejected this allegation, claiming it has provided extensive documented evidence of Murray’s supposed “misconduct” and the alleged link between a family trust and the offshore companies in question.

According to Big, Murray’s letter contains numerous “material inaccuracies” coupled with unverified claims. The company has temporarily suspended voting rights associated with the contested offshore firms.

Big Technologies is reportedly preparing to disclose further information regarding alleged misconduct by Murray prior to the annual meeting. At 56 years of age, she has reportedly consented not to transfer or sell up to £320 million of her assets as part of the ongoing legal dispute, a sum she contested, stating that she does not have assets close to that valuation.

Murray claimed that she was notified of her suspension from the company “while I was asleep on the West Coast [of the United States]” and did not receive any allegations for another two days. She argued that her dismissal occurred the following day without proper consideration of her account, violating principles of natural justice.

Big Technologies responded by stating: “We are resolute in our commitment to the measures we have taken to safeguard the company and to advance our legal claims against Ms. Murray.” The company maintains that it is acting with the best interests of all shareholders in mind, asserting that the board is “effective and well-organized.”