James Ferrell, interim CEO of Ferrell Cos. Inc., accused the company's ESOP trustee of playing a big role in the company's financial problems, then trying to protect itself from breach-of-fiduciary-duty claims.
The company's ESOP owns 100% of Ferrell Cos., which in turn owns 100% of the general partner Ferrellgas Inc., which manages the publicly traded assets of Ferrellgas Partners LP (NYSE: FGP). Ferrell Cos. moved to remove and replace ESOP trustee GreatBanc Trust Co. effective Nov. 8, then filed…
James Ferrell, interim CEO of Ferrell Cos. Inc., accused the company's ESOP trustee of playing a big role in the company's financial problems, then trying to protect itself from breach-of-fiduciary-duty claims.
The company's ESOP owns 100% of Ferrell Cos., which in turn owns 100% of the general partner Ferrellgas Inc., which manages the publicly traded assets of Ferrellgas Partners LP (NYSE: FGP). Ferrell Cos. moved to remove and replace ESOP trustee GreatBanc Trust Co. effective Nov. 8, then filed…