Investors Drove Out Fracking Sand Co.'s CEO, Suit Says

Law360, Dallas (June 10, 2013, 3:41 PM EDT) -- The former CEO of a fracking sand supply company Wednesday sued a Dallas-based private equity company that bought a majority stake in the business, alleging that though Cordatus Capital LLC promised to invest $15 million, it refused to fork over enough cash to pay even his salary.

Brennan Thomas alleges in the suit that Cordatus fraudulently induced him into giving up an 82.5 percent ownership interest in Pro Sands LLC while it never intended to invest more than $160,000. Thomas says he is entitled to unspecified...
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