Friday, November 2, 2007

ACS Directors Resign Over Spat With Deason

Five independent directors of Dallas-based Affiliate Computer Services said Thursday that they have resigned, accusing Chairman Darwin Deason of "bullying and thuggery" after the board disagreed with Deason's dealings in a proposed acquisition of the firm by Cerberus Capital Management. The move came after Deason called for the directors to resign, saying in a letter that the board "has lost the trust and support of the Company's shareholders." The directors, in their resignation, said that Deason's move to accept the Cerberus proposal was "self-interested."