DALLAS — Attorneys for Kevin Curley, the former president of Texans Insurance Group who was terminated in April 2007, have filed a new legal action today against the CUSO and Texans Credit Union for violating an arbitration ruling that was supposed to reinstate Curley and award him back pay and benefits.
Filed in the 192nd Civil District Court, Dallas County, Texas, the action alleges Texans Insurance and affiliated companies "schemed" to deny insurance executive Kevin Curley the full payout for the sale of his insurance agency to TCU. The lawsuit alleges the defendants illegally fired Curley from his post as president of the company and then refused to follow a July 2008 arbitrator's award that found Curley should be reinstated.
"The defendants effectively changed the locks on the front door–firing Mr. Curley in what we believe was not only a malicious and improper act, but one that was short-sighted as well," said William A. Brewer III, partner at Bickel & Brewer and lead counsel for Curley. "By removing Mr. Curley as president of [Texans Insurance], we believe defendants destroyed the value of the company and jeopardized the economic model upon which Mr. Curley was to be compensated."
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Brewer said the "defendants' mismanagement of [Texans Insurance] has deprived Mr. Curley of his right and ability to earn more than $21 million in earn out payments."
A comment from Texans CU was not immediately available. The CU previously told Credit Union Times that Curley was reinstated on Sept. 1 but Curley's attorneys said the former executive has yet to resume his post.
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