Shady Sheehy’s Investigations and Lawsuits Stack Up
FOR IMMEDIATE RELEASE
Tuesday, August 27, 2024
CONTACT
rehm@mtdems.org
Helena, MT – While Shady Sheehy’s company bleeds cash and faces questions about its “viability,” Sheehy is confronting a slew of lawsuits and shareholder investigations.
We know it’s hard to keep track, so we’ve put them in one handy place:
Sheehy is being sued by former employees who allege that Sheehy forced them “to sell off stock that was part of their compensation package before the company sold a subsidiary for hundreds of millions of dollars,” potentially costing them millions of dollars.
Sheehy’s company is facing two investigations by law firms for potential corporate misconduct. The first investigation is focused on whether or not Sheehy’s board of directors acted for the good of the company. The second investigation will determine if Sheehy’s board, without shareholder approval, made decisions that hurt shareholder value and did not benefit his company.
Sheehy’s company is also facing a securities fraud investigationby a law firm seeking to determine whether Sheehy or other senior members of his team have engaged in unlawful business practices.
Sheehy is being sued for negligence after co-piloting a plane that crashed into a Florida home in 2019. The crash seriously injured a young girl who was inside the home. Now, her family is suing Sheehy for negligence, alleging that he breached his legal duty to exercise “reasonable care in flying, inspecting, maintaining, and/or operating the seaplane.” The family is seeking more than $100,000 in personal injury and property damages.
SEE ALSO:
NBC News: Tim Sheehy may turn the Senate red. But is he really a successful businessman?; Washington Post: Montana GOP Senate candidate touts his business. It’s losing millions; Billings Gazette: Tim Sheehy vacates leadership roles at Bridger Aerospace; Montana Free Press: U.S. Senate hopeful’s company reported losses of more than $77 million in 2023; Daily Montanan: Tim Sheehy’s former employees sue over alleged breach of contract; NBC Montana: Unpacking criticism of Sheehy’s blind trust pledge; Bloomberg Gov: Key GOP Senate Recruit Seeks Job Overseeing His Largest Customer; Daily Beast: GOP Star Tim Sheehy Forgot to Mention the Family Money in His ‘Self-Made’ Success Story
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