Post by Logan on Jun 7, 2016 13:51:46 GMT -6
Gravity Payments CEO Dan Price, the Nampa native who gained fame last year after raising the minimum salary at his company to $70,000, underwent courtroom questioning in Seattle by his brother’s lawyers on issues ranging from alleged personal charges to corporate accounts to “overstatements” he made to the news media.
Lucas Price, who owns 32.5 percent of the Seattle company, is suing brother Dan in a civil trial that began last week. Lucas Price contends that Dan, who owns 67.5 percent, paid himself excessively and violated Lucas’ minority shareholder rights. Dan Price has denied these claims.
The Prices are sons of Ron Price, a Nampa business consultant.
During Dan Price’s testimony, Lucas’ lawyer, Greg Hollon, cited multiple pieces of evidence that Dan worked to write Lucas out of the narrative of the company, that Dan Price used a company credit card for personal purposes and that he once asked for compensation that totaled more than half the company’s revenue.
Read more here: www.idahostatesman.com/news/business/article82168752.html
Lucas Price, who owns 32.5 percent of the Seattle company, is suing brother Dan in a civil trial that began last week. Lucas Price contends that Dan, who owns 67.5 percent, paid himself excessively and violated Lucas’ minority shareholder rights. Dan Price has denied these claims.
The Prices are sons of Ron Price, a Nampa business consultant.
During Dan Price’s testimony, Lucas’ lawyer, Greg Hollon, cited multiple pieces of evidence that Dan worked to write Lucas out of the narrative of the company, that Dan Price used a company credit card for personal purposes and that he once asked for compensation that totaled more than half the company’s revenue.
Read more here: www.idahostatesman.com/news/business/article82168752.html