In addition to the financial shenanigans, Latif says in his lawsuit that in the midst of the McData negotiations Russo, who was named Nishan's CEO in November 2002, was charged with sexual harassment by a Nishan employee.
"Such conduct plainly does not support the payment of a $1.1 million severance package," says the lawsuit, which alleges that McGraw and other board members "chose to treat Russo leniently so as to ensure his support for the McData deal."
Latif is asking the court to require the defendants to return the proceeds from the McData transaction that they "unjustly received" to the common shareholders, and he is seeking compensatory and punitive damages.
One suspects, though, that the raw rancor exhibited in this dispute will live on regardless of how the finances are ultimately settled.
Todd Spangler, US Editor, Byte and Switch
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