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Article: Money managers trade shares with suing shareholders. (Zaske, Sarafa and Associates Inc.)
- Article from:
- Crain's Detroit Business
- Article date:
- April 21, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. 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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What apparently began as a dispute over the buyout of four minority shareholders has landed Birmingham money managers Zaske, Sarafa & Associates Inc. in Oakland County Circuit Court.
In a legal brief filed with a motion to dismiss, the money managers contend that the four shareholders' suit contained false allegations. A hearing on the motion for dismissal is set for May 7.
An attorney for the four shareholders said the lawsuit is not merely about a stock buyout and that his clients did not file false allegations.
W. Kent Clarke Jr., John Roehling, Allen Russell and Marilyn MacLeod-Russell sued in November, claiming they did not receive the big ...