A group of
Leisnoi Corporation shareholders were recently surprised to discover that each
of their personal bank accounts had been emptied without their knowledge. Those
affected are the same eleven shareholders who are plaintiffs in a lawsuit
against the Leisnoi board of directors.
lawsuit was filed two years ago in an attempt to get information from the
self-appointed board of directors of the Leisnoi Village Corporation. The board
had failed to hold annual meetings and did not provide audited financial
statements as required by law. There were also several problems with the proxies
that shareholders use for voting on corporation business. One of the plaintiffs
in the lawsuit is JoAnne Holmes.
(Leisnoi 1 "...parts of the
Tan ruled in the board's favor in some aspects of the case, the judge also
determined that the Leisnoi board was wrong for not complying with federal law
as dictated by the Alaska Native Land Claims Act. In spite of that, the judge
required the eleven shareholder plaintiffs to pay half of the Leisnoi Board's attorney
fees for the two year long case. That decision resulted in the execution of a
writ that wiped out the plaintiff's bank accounts.
(Leisnoi 2 "...based
on law or fact.")
The group of plaintiffs, which
is now down to Holmes and just two other shareholders, have filed two appeals.
The latest one is in response to the loss of the shareholders' personal
(Leisnoi 3 "...we'll
be appealing that.")
Holmes said that some of the eleven
plaintiffs are elderly on fixed incomes who lost their life savings and had
their retirement funds levied.
(Leisnoi 4 "...that's
where we at.")
The total judgement against the
plaintiffs was 91,134.48 dollars.