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A lawsuit from three ousted executives claims that Certus' board rubber-stamped managerial excess, before abruptly "turn[ing] like jackals" and firing the founders.

Certus Lawsuit Details Backstage Drama, Widespread Excess

Three of Certus' ousted executives depict a behind-the-scenes struggle at the Greenville, S.C., bank as management, directors and investors were often working at cross purposes. The lawsuit also discusses a possible merger with an unnamed bank that never took place.

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