Settlement Reached in Minnesota Family Business Lawsuit
MINNEAPOLIS (AP) _ Relatives feuding for control of one of the largest family-owned businesses in Minneapolis have reached a settlement that resolves several lawsuits.
The lawsuits involving Twin City Fan Cos. were put on hold this month after family members agreed to a term sheet resolving all claims.
Court documents say the feud began in 2016 after an internal investigation uncovered former CEO Charles Barry had questionable spending.
Family members allege Barry misused corporate resources, including spending at
least $11 million to support his current wife Kathleen Bryan-Barry.
Barry denies those claims and accuses his ex-wife and children of using his affair with Bryan-Barry to push him out of the company. He's agreed to sell his nearly 27 percent share of the company for $15 million to $20 million.