Local & Regional
Sun June 27, 2010
By Associated Press
Oklahoma City, Ok – Express Services co-founder sues CEO
OKLAHOMA CITY (AP) A co-founder of the employment company Express Services Inc. is suing the chief executive officer for allegedly taking more than $134 million for personal use.
The lawsuit filed in federal court in Oklahoma City by Bill Stoller of Portland, Ore., asks that CEO Bob Funk be removed from his position and that missing funds be returned or promissory notes be issued.
Stoller also asks the court to name him CEO and board chairman.
Funk released a statement saying he's confident the allegations "will be proven groundless in court."
Among other things, the lawsuit alleged that Funk used Express Services as a guarantor for his $85.5 million purchase of New Mexico ranch without the approval of Stoller or the company's board of directors.
Information from: The Oklahoman, http://www.newsok.com