Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: TUESDAY, May 2, 1995 TAG: 9505020135 SECTION: BUSINESS PAGE: B-8 EDITION: METRO SOURCE: MAG POFF DATELINE: LENGTH: Short
Victor Foti said in his reply filed Monday in Tennessee that the plaintiff, former president David Wachtel Jr., was fired by the board for cause, which he did not specify.
Foti said in his pleadings for the Chancery Court of Davidson County, Tenn., that he is not personally liable in the case because he merely was voting as a member of the board for Wachtel's termination.
Foti, who had been chief financial officer of the corporation, became president after Wachtel was terminated Feb. 28.
Wachtel is seeking $11.2 million from Western Sizzlin, Foti and Joe Cowart of Twin City, Ga., for what he said was wrongful termination of his contract which would not have expired until 1998.
Wachtel alleged that Foti and Cowart induced the board to breach his contract. Wachtel owns 13 percent of the company and is its largest shareholder.
by CNB