By Zach Spadt
TCT issued a statement on Monday strongly condemning recent allegations that the company’s leadership misled stakeholders prior to its 2014 sale.
“TCT, its officers, attorneys and former board members look forward to the day when the claims of a former disgruntled board member are proven to be what they are: blatant falsehoods,” CEO Chris Davidson said in a statement.
Monday’s press release was in response to a motion for judgment filed last week in district court claiming that the cooperative’s members were misled regarding the company’s value.
The allegations are a part of an ongoing lawsuit brought by former TCT board member Joe Campbell against TCT, its new owner and Davidson, among others.
In the lawsuit, Campbell, through his attorneys, claims that board members did not give 90 days’ notice prior to the 2014 sale. Campbell also alleges that board members did not have stakeholders’ best interests in mind during the sale process.
Former TCT board member Cliff Alexander called Campbell’s allegations “ironic” in the written statement.
“[T]hose board members stood in the exact same shoes as everyone else and had just as much stake in this transaction as their friends and family who were also (co-op) members,” Alexander said.
The statement goes on to call Campbell’s allegations “nothing more than a fairytale” and says TCT provided co-op members access to pertinent documentation regarding the sale, created multiple videos explaining the deal and held three town hall meetings.
Further contradicting last week’s allegations, Davidson said TCT’s sale has benefited the 825-member cooperative. It continues to provide internet, television and telephone service throughout the Big Horn Basin and plans to expand.
If anything the lawsuit only hurts customers receiving the company’s services by “draining resources that would otherwise be used to add services,” Davidson said.
“This sale has been proven again and again to be a good deal for former members. Eventually Campbell’s misrepresentations will fall under their own weight.”
As of press time, TCT has yet to file a response in court.