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Civil suit claims Foss board negligent
Hampton Union - Seacoast Online ^ | June 16, 2006 | Patrick Cronin

Posted on 06/24/2006 11:10:54 AM PDT by King Moonracer

HAMPTON (NH)-- Creditors of the bankrupt Foss Manufacturing Co. filed a civil suit against former chief executive officer Steven Foss and former executives.

Plaintiffs seek monetary damages alleging Foss executives fraudulently "looted" company funds.


TOPICS: Business/Economy; Crime/Corruption; US: New Hampshire
KEYWORDS:
Foss was a member of the board of directors and a compensation-committee member of Tyco International when it was led by former chief executive L. Dennis Kozlowski and had its U.S. headquarters in Exeter. Kozlowski and former Tyco finance chief Mark Swartz were sentenced Monday to serve up to 25 years in prison for looting Tyco and manipulating its stock.

I hope they all rot in hell!

1 posted on 06/24/2006 11:10:57 AM PDT by King Moonracer
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