Gary Kirkindoll, the former CEO of Texans Insurance Group, is suing Texans Credit Union to collect $1.89 million through a deferred compensation plan.
According to Kirkindoll's lawsuit, he has not received funds from the deferred compensation plan since leaving the $1.6 billion Texans CU on May 23, a media report noted.
In addition to an alleged breach of contract, Kirkindoll is suing for negligent misrepresentation, fraudulent misrepresentation, breach of fiduciary duty and fraudulent inducement.
Kirkindoll had been the CEO of Texans Insurance Group since January 2007. He has served in several capacities at Texans CU over the past six years.
Texans Insurance Group was previously involved in a separate wrongful termination dispute involving its former president, Kevin Curley. The credit union settled the case in June 2010.
The NCUA placed Texans CU in conservatorship April 15.
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