QUINCY, Ill. (July 6)—Three Titan shareholders have filed a derivative complaint against Titan International Inc. CEO Maurice Taylor Jr. and the company´s board in Illinois state court. The suit was filed June 20 on behalf of Merrill Beck, Lawrence Breuklander and Marvin Glass, all of whom are members of United Steelworkers of America Local 164, which has been striking Titan´s tire plant in Des Moines, Iowa, since May 1, 1998. It seeks to force Titan´s board to personally repay Titan International unspecified compensatory and punitive damages for actions that have hurt the company´s market value and corporate franchise, including alleged mismanagement and financial irresponsibility.
Titan faces USWA-inspired shareholders suit
Letter
to the
Editor
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].