Maine Cooperative Lobster 207 Wins $5 Million Settlement in CEO Misconduct Case
Lobster 207, a co-op formed by the Maine Lobstering Union (MLU), landed a $5 million settlement in its favor after five years in court against a former CEO, Warren Pettegrow, his parents, and other parties.
Lobster 207 alleged that the defendants engaged in a “course of misconduct that resulted in serious economic injuries to Lobster 207 " through schemes, rackets, and misrepresentations. The Portland Press Herald reported that the family continues to deny the charges.
The lawsuit, filed in 2019, alleges that the Pettegrows defrauded...
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