FRANKFORT, Ky. (AP) – The former CEO of an aluminum company planning to build a $1.7 billion plant in Appalachia has sued the company and several of its stockholders over his ouster.
Craig Bouchard claims the defendants breached their obligations under a company voting agreement after refusing his efforts to remove four executives from Braidy’s board.
The suit claims Bouchard had “unilateral, unqualified contractual power” to remove the company’s board members at any time and appoint new members.
Defendants include the company and four Braidy board members and stockholders. The company says it expected Bouchard’s lawsuit and predicts its action will be upheld in court.