Former co-owner of telecommunications firm sues for allegedly botched buyout plan

By Kyle Barnett | Aug 1, 2013

GRETNA – A former co-owner of a local telecommunications company is suing over the company’s alleged failure to buy him out despite the signing of a contract to do so.

Craig Clark filed suit against Gulf Coast Systems LLC and Jesse Schmidt in the 24th Judicial District Court on June 4. Clark claims he was an owner of class A shares in Jefferson Parish-based corporation Gulf Coast Systems. The plaintiff alleges that he entered into a contract with the defendant to pay him $54,008 for his shares in the company. Clark asserts that Gulf Coast Systems has not yet paid him under the contract.

The defendant is accused of breach of contract.

Damages in the amount of $54,008 plus interest in the amount of $14,414.86 and 10 percent interest per year until the amount is paid off.

Clark is represented by attorney Philip C. Ciaccio Jr. of Gretna.

The case has been assigned to Division N Judge Stephen D. Enright Jr.

Case no. 727-623.

More News

The Record Network