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  • McGavick sued over Safeco payout

    08/02/2006 8:16:32 AM PDT · by proudpapa · 15 replies · 730+ views
    Seattle PI ^ | August 2, 2006 | Neil Modie
    A prominent Seattle lawyer and a scion of a prominent Seattle family are suing a prominent politician -- U.S. Senate candidate Mike McGavick -- over his lucrative retirement package from a prominent Seattle company, Safeco. The intriguing cast of characters came together Tuesday in a shareholder lawsuit, heavy with political overtones, against Safeco's board of directors and McGavick, a Republican who was its chief executive. It was filed in federal court in Seattle. The complaint said Safeco paid the candidate $28.4 million in early 2006 in an illegal "waste of corporate assets" after he resigned to run against Democratic Sen....