According to a story today at madison.com, a a group of disgruntled, longtime shareholders have filed a lawsuit against Fitchburg-based Promega Corp. and Bill Linton, the company’s founder and CEO, claiming “shareholder oppression.”
The group charges that Linton has manipulated his way to majority control and made it difficult for them to receive “a fair return on their investment until at least 2078.”
The group, led by Nathan S. Brand and Ted Kellner, tried unsuccessfully last year to takeover Promega and oust Linton, who is reportedly determined to keep the company private.
