BUFFALO, N.Y. — Members of the family that owns Consumer's Beverages Inc. have asked for the Buffalo-based business to be dissolved and sold, according to a petition filed in state Supreme Court.
Three members of the Kavanaugh family are seeking judicial dissolution of Consumer's and to list the business for sale with a broker “to realize the greatest return for all shareholders," according to the petition filed June 9. Those three siblings, Matthew, James and Helen Kavanaugh, in total own less than 50% of the company's voting shares.
The plaintiffs have accused their brother Neil Kavanaugh, who remains president and CEO of Consumer's, of “illegal, fraudulent or oppressive actions toward petitioners” during his tenure, according to the petition. They also accused him of having "looted, wasted, converted or diverted company assets for non-corporate purposes," according to the petition.
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