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Alticor Leaders - including Dick DeVos - sued [View All]

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vanboggie Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-14-06 02:16 PM
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Alticor Leaders - including Dick DeVos - sued
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Edited on Fri Jul-14-06 02:24 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.

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