Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Alticor Leaders - including Dick DeVos - sued

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Places » Michigan Donate to DU
 
vanboggie Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-14-06 03:16 PM
Original message
Alticor Leaders - including Dick DeVos - sued
Edited on Fri Jul-14-06 03:24 PM by vanboggie
Friday, July 14, 2006
By Aaron Ogg
The Grand Rapids Press

GRAND RAPIDS -- The way three former Amway Corp. Asian subsidiary investors see it, Alticor Inc. President Doug DeVos, Chairman Steve Van Andel and former President Dick DeVos helped cheat them and others out of more than $1 billion seven years ago.

Alticor attorney Robert Yonker says the former stockholders had an opportunity to recover their presumed losses, and they failed to do so.

The investors sued Amway Asia Pacific, its executives and its New York investment firm, Goldman Sachs, nearly five years ago. They claim they were forced to sell shares when the company went private and before stockholders could reap rewards of China's huge consumer market.


More...
http://www.mlive.com/business/grpress/index.ssf?/base/b...
Refresh | 0 Recommendations Printer Friendly | Permalink | Reply | Top
EmmitFitzhume Donating Member (173 posts) Send PM | Profile | Ignore Fri Jul-14-06 04:20 PM
Response to Original message
1. I'm shocked
that DeVos would face charges that he treated investors unfairly in order to put a few more bucks in his pocket. That doesn't sound like the man we have seen on his ads. He probably needed the money to buy a 9th house.

I didn't see anything in the article about the results of the hearing, die I miss something or do we know the outcome. Where there's smoke there's fire and there is a lot of smoke around the DeVos camp right now.
Printer Friendly | Permalink | Reply | Top
 
vanboggie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-15-06 03:19 AM
Response to Reply #1
2. Don't know outcome
I just saw the article this afternoon and thought it was interesting.
Printer Friendly | Permalink | Reply | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sun Dec 28th 2014, 09:57 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Places » Michigan Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC