A squabble has broken out in the family that owns the David G. Horsey & Sons construction company in Laurel.
The founder’s son, Michael, has filed a lawsuit charging that he was fired unexpectedly from the family’s multi-million dollar company in March of last year.
The Wilmington News Journal reports that in the year before his dismissal Michael said he raised concerns about the financial affairs of the corporation and its affiliates with an estimated worth of $84 million.
These affiliates ranged from a trucking company and turf farm to a lawn and landscaping company.
The lawsuit charged that several inter-company deals…caused the diversion of cash and profits from David G. Horsey Incorporated to benefit his brother Robert through companies that he controlled including LBG Homes LLC in Dagsboro.
Michael accuses his brother Robert of trying to gain control of the company adding he believes his brother was dissatisfied with his share of the profits from the company and its real estate interests.
News Journal reports that it left messages for a number of family members including David Horsey and his son.
But none were returned.
