Last week, a Football Association document was made public for the first time detailing the foul and abusive comments made by Sheridan towards referee Eddie Ilderton and fourth official Matthew Donohue during a 2-0 defeat to Wycombe on December 10.
The report revealed details of Sheridan saying to Donohue ''You're a f****** c***. A c***.'' before shouting at Ilderton ''You're a f****** disgrace, you're f****** useless, you've not f****** got anything right today, you should be f****** ashamed, you're f****** s***, my kids aren't going to get any f****** Christmas presents because of f****** you''.
The tirade of abuse led to Sheridan, now back as manager of Oldham, receiving a five-match ban.
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Following this disclosure of the content of Sheridan's language, Hardy has also revealed it was that, rather than Notts County's club record run of nine successive league defeats, which led to his departure from Meadow Lane.
"I wish to make it clear that this sort of behaviour by any employee of this club will not be tolerated," said Hardy in a statement on the club's official website.
"It was our decision to terminate the contract based on what I read in the referee's report regarding the incident. This is a family-friendly club which aims to be a pillar of the local community.
"Comments of the type made by Mr Sheridan were utterly appalling and wholly unacceptable, completely undermining the community spirit and focus we are striving to develop here.
"In light of the recent disclosure of the referee's report, I thought it appropriate to communicate the exact reasons behind the course of action we took."
Sheridan admitted the charge on December 15 and the FA's Independent Regulatory Commission reported that the 52-year-old former Leeds and Sheffield Wednesday midfielder latter 'submitted a letter apologising unreservedly for his actions.'
Sheridan has since been replaced as manager at Notts County by former Leyton Orient boss Kevin Nolan.
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