ST. LOUIS – A St. Charles County man alleges the members of a board of directors made unauthorized loans.
Michael Renfroe, derivatively and on behalf of Active Holdings Group Inc., filed a complaint on Nov. 29 in the St. Louis Circuit Court against Cory Albers, David Gajeski and David Reisner alleging breach of fiduciary duty.
According to the complaint, the plaintiff and the defendants are board members of Active Holdings Group. The plaintiff alleges no annual shareholders meeting of AHG has been held or conducted upon due notice and no meeting minutes have ever been prepared or distributed to him.
The suit states in March, Reisner entered into promissory notes on behalf of AHG without authorization of the board and the remaining defendants authorized a bank to deposit and divert more than $1.1 million to another entity they partially controlled in breach of their fiduciary duty.
The plaintiff requests a trial by jury and seeks judgment against defendants in an amount of $1.1 million, costs, fees and all other relief that is just and proper. He is represented by Eric M. Martin of Eric Martin Law in Chesterfield.
St. Louis Circuit Court case number 1822-CC11732