Peter Halmos has fired off another lawsuit. The deposed SafeCard Services Inc. founder has accused the credit card loss-protection company, along with several of its officials past and present, with devising a "secret scheme" to frame him for insider trading.
The lawsuit, filed in Florida state court, alleges breach of fiduciary duty, constructive fraud, fraud, and negligent misrepresentation. Mr. Halmos is seeking over $10 million in damages.
Named as defendants are SafeCard; its former director, William T. Bacon, Jr.; its former general counsel, Barry Tillis; and Barry Natter, currently counsel for SafeCard and its Jacksonville, Fla.-based parent, Ideon Corp.
Mr. Halmos has used the legal system and print media to launch a litany of charges against SafeCard since his 1992 ouster. He has sued SafeCard in several states, charging its directors with unfairly pushing him out, while withholding stock options and other financial obligations.
SafeCard has accused Mr. Halmos of abusing his position at the company, misappropriating and misusing corporate funds and assets, among other things. Both sides are seeking multimillion-dollar damage awards.