Settlement Talks Bring Halt to Wortman-Ferguson Dispute After 3 Days of Testimony

by George Waldon  on Monday, Feb. 7, 2011 12:00 am  

Wortman threatened to resign if Ferguson wasn't removed from the board. Instead, the directors offered to accept his resignation, but Wortman wouldn't submit it, according to the source.

The unsuccessful coup was especially galling to Ferguson because he was responsible for Wortman's entry into the world of bank directorship.

The Wortmans bought the Kaufman Lumber Co. stock back from Ferguson and Cauley in May 2009, the same month that Cauley's theft of more than $9 million from a client trust account was publicly reported.

In the run-up to the trial, Wortman attempted to keep Cauley far removed from his battle with Ferguson.

"Defendants should be prohibited from mentioning Mr. Cauley's name or referring to him in any way because of the tendency of such reference to inflame the jury or confuse the issues," his lawyers asked the judge in a pre-trial filing.

 

Related Parties

Judge Chris Piazza is overseeing another case filed against Rick Ferguson Inc. last summer by Dr. Christopher Pope and his wife, Katherine.

Their July 30 complaint alleges the homebuilder is responsible for construction flaws in their house that weren't discovered until they entered the ownership picture in 2006.

The residence in west Little Rock's Belle Pointe neighborhood was built by Ferguson in 1999.

Mistakes made during construction led to water and mold damage that required more than $100,000 in exterior and interior repairs to remedy, according to Christopher Pope.

"We're still in the process of doing depositions," he said.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Should the alcohol amendment remain on the ballot?