TCT Lawsuit “Baseless”, Says CEO
Written by Andrew-Rossi on November 9, 2017
The CEO of a local telecommunications company stands firm in his position that the lawsuit that has been ongoing for several years is baseless.
TCT’s Chief Executive Officer, Chris Davidson, explains that the lawsuit was born out of the company’s decision to sell to private buyers in 2014, and that the membership overwhelmingly agreed. However, a board member who disagreed with the decision decided to sue.
According to the lawsuit filed by former board member Joe Campbell, the total value of the transaction was over the amount disclosed to members, which was $51 million. Additionally, Campbell says the owners did not receive the full amount, and were cheated out of tens of millions of dollars.
However, Davidson asserts that during the negotiations, all information was shared openly with the Board before the decision was made to support the sale. Davidson says that each of the members, including the disgruntled board member, received a portion of the settlement, with meant that each member received between $25,000 and $32,000.
In a statement released last week, Davidson pointed out that the Campbell’s lawsuit continues to cause harm not only to TCT, but to its many customers by draining resources that would otherwise be used to add services. He says millions of dollars that have been earmarked for enhancing service throughout northwest Wyoming are in jeopardy of being delayed or cancelled due to the financial burden of this ongoing lawsuit by the Campbells.
Davidson adds that TCT has filed a countersuit in federal court on grounds that Campbell took a computer belonging to the company, and published private board information that he got from the laptop, which damaged TCT. That court date is set for July of 2018.