Former Buck Execs Sued for Attempt to Sell Firm

Business Insurance reports the lawsuit filed last month alleges Howard Fine, Buck’s former chairman of the board, and Christopher Michalak, a former executive managing director, also made unauthorized disclosures of confidential and proprietary Buck information to outsiders “as part of their attempt to find venture capital financing for a purchase of Buck.” ACS said in the suit the former executives’ actions were “simply for the reason that they personally would like to own Buck instead of ACS owning Buck.”

In addition, the suit accuses Fine and Michalak of asking other Buck employees to resign if ACS did not sell to a venture capital group that included the two executives.

ACS said the executives’ false statements that Buck was for sale would likely damage the consulting firm’s relationship with current and prospective clients and cause those clients to hesitate to do business with Buck if they believe the firm is for sale. An ACS spokesman said the company will “pursue every available remedy we deem appropriate to address this situation,” according to Business Insurance.