BEATRICE, Neb. (AP) -- Twelve former employees have reached a tentative agreement in their lawsuit against Dempster Industries and CEO Wallace Davis.
The Daily Sun says (http://bit.ly/1cbaO7g ) a trial had been scheduled to begin Monday in Beatrice.
The 12 filed the lawsuit in September 2011 for lost wages and other earnings that total more than $160,000. The lawsuit alleged that Davis and Dempster also didn't pay parts suppliers, defaulted on loans from banks and economic development firms and didn't deliver products to customers that paid up front. The Beatrice manufacturing plant closed down last year.
Davis bought Dempster Industries for $3 million in 2008, with plans to continue making water pumps and fertilizer equipment and add construction of wind turbines. The lawsuit says the company then ran into financial difficulty.