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Bank of Floyd parent company's lawsuit against former bank executive

Bank of Floyd parent company's lawsuit against former bank executive

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Published by The Roanoke Times
The corporate parent of the Bank of Floyd is alleging that its largest shareholder — a dissident who opposes bank management and is trying to unseat half the board directors — was improperly aided by a former bank executive whom the bank accuses of duplicity, breach of trust and revealing company secrets. In a recently filed federal lawsuit, Cardinal Bankshares Corp. accuses former executive Henry Logue of providing confidential bank information and other support that enabled dissident shareholder Douglas Schaller to time stock purchases and strengthen his campaign to influence the direction of the bank. [Read the full story on roanoke.com: http://www.roanoke.com/news/roanoke/wb/308363]
The corporate parent of the Bank of Floyd is alleging that its largest shareholder — a dissident who opposes bank management and is trying to unseat half the board directors — was improperly aided by a former bank executive whom the bank accuses of duplicity, breach of trust and revealing company secrets. In a recently filed federal lawsuit, Cardinal Bankshares Corp. accuses former executive Henry Logue of providing confidential bank information and other support that enabled dissident shareholder Douglas Schaller to time stock purchases and strengthen his campaign to influence the direction of the bank. [Read the full story on roanoke.com: http://www.roanoke.com/news/roanoke/wb/308363]

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Categories:Types, Business/Law
Published by: The Roanoke Times on May 04, 2012
Copyright:Attribution Non-commercial

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09/15/2013

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