Pizza Inn CEO canned for cause

The simmering dispute of control of Colony, Texas-based Pizza Inn, Inc. boiled over yesterday as the Pizza Inn board fired CEO Ronald W. Parker for cause, which is a nice legal way of saying that he’s being canned with no severance payment. This move comes on the heels of this earlier move by the board to authorize a company lawsuit against the Dallas-based law firm of Akin Gump Strauss Hauer & Feld LLP for $7.4 million in damages for allegedly breaching its duties to the company in writing “golden parachute” severance package agreements for four senior Pizza Inn executives.

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