Settlement reached in Joel Matlin's $11.3 million lawsuit against AlarmForce

TORONTO—A settlement was reached on March 10 in Joel Matlin's $11.3 million lawsuit against AlarmForce.

Matlin, who is the founder and former CEO of AlarmForce Industries before he was ousted in 2013, told Security Systems News, “I am happy that it is has been resolved,” but noted he is “restricted to talk about it in any way.”

Matlin filed a lawsuit over his dismissal in October of 2013.

Industry veteran Matlin launched Think Protection, a mass market home alarm company, in June of 2015, with his son, Adam Matlin, Think Protection's COO.

Think Protection offers a home security solution with $12.99/month monitoring and no annual contract. With full home automation capabilities and no need for a home phone line.

“Think Protection is doing extremely well,” said Matlin. “We are marketing throughout Canada and the United States, and we are executing on our plan. We are incredibly optimistic, and we think there is a very robust residential security market out there that is up for grabs for those who have the strongest offering at the lowest price point. I feel strongly that we fit into that category.”

For 2016, Matlin said the main goal is to increase the company's traction at a very high rate. “When you are a startup and you are coming out of the gates, which we were in this case, we have to grow our business a lot quicker than your typical startups because of our experience in the marketplace,” he explained. “It is inherent that we gain as much traction in the shortest period of time. We look to be one of the largest providers in North America within the next 3- to 5 years.”