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Alabama One Hit With Class Action Lawsuit

Former board member Jerry Logan initiates the suit, which calls for removal of the credit union's current management.

By David Morrison | Updated on June 19, 2015

Jerry Logan, a former board member for the $613 million, Tuscaloosa, Ala.-based Alabama One Credit Union, initiated a class action lawsuit against the cooperative’s board of directors and at least two of its executives, according to a complaint filed in Tuscaloosa County Circuit Court Friday.

The complaint named Alabama One CEO John Dee Carruth and former Member Business Lending Manager Tammy Ewing, along with all members of the credit union’s sitting board of directors and supervisory committees, and was filed on behalf of Alabama One members. The complaint charged the defendants with violations of state law, breaches of fiduciary duty, waste of corporate assets, conspiracy, and reckless or intentional misrepresentation and suppression of material fact.

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