Guerrilla Air is Sueing

Dan Colby Versus Guerrilla Air

Dan Colby, former founder of Air America and Guerrilla Air, just filed a suit with the Federal Northern District Court of Illinois against YSN Imports for $12,000,000. YSN Imports is known as the West Coast "Branch" of Guerrilla Air located in Gardena, California. Colby is filing a series of different allegations towards YSN Imports.

From 68Caliber.com:

"There are five allegations that boil down to claims for accounting (looking at the books), breach of contract, conversion (exercising undue control) breach of fiduciary duty (not executing their responsibilities properly) and one that isn’t named as such but comes down to operating under color of providing false information.

The case centers on the method of accounting used to determine how much Colby and et al earned on a profit sharing plan and the allegation that YSN has been padding their expenses in order to diminish Colby’s earnings.

The initial filings are available through PACER."

YSN Imports is a stakeholder within Guerrilla Air.

For the full story go to:

http://68caliber.com/?p=15830

Lap dances are not expensable?

https://www.youtube.com/watch?v=0OTgb3KO7QM

i think you got it back wards. hes doing the sueing.

: Dan Colby and others are suing YSN Imports, Inc (and individuals) over a contract dispute.

To make this information a bit more relevant: Dan Colby is the founder of Guerrilla Air, which company arose from the ashes of his other world-famous HPA manufacturing company – Air America.

So GA is doing the suing, not the ones being sued.

Well technically they are being sued within there own corporate structure....l

One part of the company is sueing the other for padding the expenses, therefore showing less profit for profit sharing. It's a common practice amoung sister companys to keep more cash on your own end. You skim the mooney back into your pocket that you didn't really ever spend.

JSmith wrote:One part of the company is sueing the other for padding the expenses, therefore showing less profit for profit sharing. It's a common practice amoung sister companys to keep more cash on your own end. You skim the mooney back into your pocket that you didn't really ever spend.

That's the basic theory of it.

I didn't want to sound like I knew TOO much about such practices....