- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)45
- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Missouri House votes to allow concealed weapons without permits (04/28/16)6
- Police report filed, but no charges in incident at Cape Central (04/29/16)37
- Two hurt in motorcycle wreck on Interstate 55 (04/25/16)1
- Senator introduces bill for I-57 that would connect Sikeston with Little Rock (04/28/16)4
- Law firm requests information about Cape's traffic cameras (04/25/16)2
- Local lawmakers split over failed medical marijuana bill; voters may have a say (04/26/16)19
- Local company makes eco-friendly kitty litter that cuts cat-box smell (04/25/16)
- Man accused of pointing BB gun at Chaffee resident (04/26/16)2
MU president on board being sued by investors
COLUMBIA, Mo. -- A bankrupt New York clothing firm whose board of directors includes University of Missouri president Manuel Pacheco has been sued for allegedly misleading investors about profit margins.
Warnaco Group Inc., a New York-based clothing manufacturer whose products are sold under such brands as Calvin Klein, Speedo and Chaps, sought Chapter 11 bankruptcy protection in June 2001. Now Warnaco faces two class-action lawsuits claiming the company misled investors about profit margins shortly before it took bankruptcy protection.
"Essentially, the charge is a vast failure to be truthful about the financial condition of the company," said Fred Isquith, an attorney representing plaintiffs in one of the lawsuits.
It does not appear that Pacheco received the kind of big payouts many executives of now-bankrupt companies are currently being criticized for accepting.