Board Of Directors Attempt To Oust Dave Mays & Benzino From The Source

 The Source co-owners David Mays and Ray “Benzino” Scott obtained a temporary restraining order against The Source board of directors yesterday (Jan. 12), in an attempt to stop the board from ousting them from the company.
According to The New York Post, the board of directors had hoped to remove Mays and Scott from their positions as “the only feasible course of action as Mays and Scott could not continue their series of financial recklessness and negligence.”

Mays and Scott were given 48 hours to appear at a special board meeting yesterday that would have made their removals official, after board members felt Mays and Scott’s involvement in the company hurts “not only the employees of The Source, but all of its investors, vendors, subscribers and readers.”

Mays and Scott however, obtained a temporary restraining order against the board of directors.

"They can want to do that all they want, but it's not happening," Mays told The New York Post. Mays said the location of Scott was "top secret."

The magazine defaulted on an $18 million loan from Textron Financial Partners last year. Textron filed a lawsuit in Oct. of 2005, asking The Source to be placed into receivership.
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