Trustee Sues Co-Founders of Ruby's Diner Inc. in Bankruptcy Court
By City News Service Mar 13, 2021 SANTA ANA (CNS) - The trustee overseeing Ruby's Diner Inc.'s Chapter 7 proceedings is suing the chain's co-founders and former officers in Santa Ana, alleging the pair drove the restaurant group into bankruptcy after improperly taking the company's assets and seeking at least $35 million in damages. The complaint, filed Thursday in federal bankruptcy court by trustee Richard Marshack, alleges the chain's insolvency was caused by Douglas Cavanaugh and Ralph Kosmides due to a series of improper decisions. An RDI representative could not immediately be reached ...
Source: iheart.com