Rose of Tralee managing director ‘used €550,000 share deal to clear personal debt’, lawsuit claims
Festival chief says transaction was ‘entirely transparent’ in response to case taken by disgruntled US shareholder
Rose of Tralee managing director ‘used €550,000 share deal to clear personal debt’, lawsuit claims
A US businessman who paid €800,000 for a stake in the company behind the Rose of Tralee following the death of his daughter, a former contestant, has claimed he was “taken advantage of” after most of the funds ended up being disbursed to other shareholders.
The allegation is at the heart of the bitter shareholder oppression lawsuit that has rocked the 65-year-old festival.
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