Koch family no stranger to battles in and out of court
(Wichita-AP) -- Today's federal pollution penalties against Koch Industries are the latest in a series of problems for the Wichita company.<br><br>The company's doings, involving one of the nation's
Thursday, January 13th 2000, 12:00 am
By: News On 6
(Wichita-AP) -- Today's federal pollution penalties against Koch Industries are the latest in a series of problems for the Wichita company.
The company's doings, involving one of the nation's richest families, read like the old "Dallas" t-v show. The list includes everything from in-family squabbles, to political intrigue, to years-long court battles risking (m) millions of dollars.
For example one of the four sons of founder Fred Koch, Bill Koch, sued the two brothers who run Koch Industries. One is Bill's twin. His suit claimed they cheated him and other dissident stockholders out of (m) millions of dollars.
Meantime, a federal jury found that Koch under-reported the amount and quality of oil it purchased between 1985 and 1989 from federal and Indian leases. Jurors said the company should compensate the government.
Also, Koch's political contributions and involvement in public affairs have been questioned.
Koch has won its share of legal battles, though.
One "plus" for the company is an assault mounted by Bill Koch that widened the split in the already-divided family.
Last June, after listening to ten weeks of testimony, a federal jury decided that chairman Charles Koch did not cheat dissident stockholders when those stockholders sold their interests in 1983.
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