May 9, 2007
Dueling Lawsuits at Dow Chemical
You will recall that Dow Chemical fired two longtime officers (and one is a director) about a month ago, because, it said, they engaged in unauthorized talks to sell the company. Earlier this week Dow filed a law suit against the two charging them with breach of duty, and the officers, J. Pedro Reinhard and Romeo Kreinberg, responded, each with his individual lawsuit against Dow for defamation. They say that they were fired because of longstanding disagreements with the CEO over corporate policy. See WSJ, Dow Chemical Rift Grows With Dueling Lawsuits.
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