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Article: Reginald Lewis' family agrees to return $15 million to settle lawsuit. (late chairman of TLC Beatrice International Holdings Inc.)
- Article from:
- Jet
- Article date:
- May 5, 1997
CopyrightCOPYRIGHT 1997 Johnson Publishing Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The family of Reginald F. Lewis, the late chairman of TLC Beatrice International Holdings Inc, has tentatively agreed to return some $15 million that Lewis received from the company in 1992, according to news reports.
The $15 million payment was recommended by a special board committee at TLC Beatrice and will settle a 1995 lawsuit brought on behalf of the privately held food company against the Lewis family, the New York Times reported.
The suit demanded the return of a $22.1 million payment that TLC Beatrice made to Lewis several months before he died of a brain tumor in January 1993. The money represented Lewis' salary and bonuses for a five-year ...