Lifestyle Enterprises Sues Former President and CEO

Lifestyle Enterprises, Inc. filed an action on January 27, 2009 against Gregory Noe, Lifestyle's former President and CEO. The complaint, filed in Superior Court, Guilford County, N.C. (High Point), alleges that Noe's leaving of Lifestyle in December 2008 and joining of Samuel Lawrence Furniture thereafter results in Noe breaching his fiduciary duties and actual and threatened inevitable trade secret disclosure. In particular, Lifestyle alleges that Noe's detailed knowledge of its overseas sources, namely Vietnam and Malaysia, constitutes trade secrets that Noe will inevitably disclose and use while at Samuel Lawrence. Lifestyle is the parent company to High Point's Forbidden City, LLC and Shanghai Leather, LLC.