Sierracin shareholders sued for expense records.
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Herbert and Euretta Hastings, a couple from the Oakland area who own a 7% stake in Sierracin, have charged that the Sylmar-based company’s chairman, Christoph Tribull, may have improperly spent more than $1 million in company funds on personal expenses. In a suit filed Wednesday, the couple asked a Los Angeles Superior Court judge to order Tribull and Sierracin to abide by an agreement to turn over records showing whether the company was repaid. The suit, maintaining that Tribull may have threatened dissident directors and officers “with grievous bodily harm and financially ruinous litigation,” also seeks the release of all correspondence between Tribull and company directors since he became chairman in 1979.
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