Bulk of $750 million Streck feud is over, but Nebraska high court gives daughter another shot
he war is over when it comes to the $765 million that will go to the foundation of the Omaha-area inventor and businessman who created Streck Laboratories.
Connie Ryan, CEO of Streck, said in a statement that the company will not appeal the Nebraska Supreme Court’s decision last month to uphold a judge’s determination that Streck owed more than three-quarters of a billion dollars to the estate of its late founder, Wayne Ryan. The foundation created by Ryan and his late wife, Eileen, is to receive that money.
The value of the company came into dispute after Connie Ryan, the Ryans’ daughter, took over Streck in 2013. In time, Wayne Ryan, who had retired, wanted to cash out his shares and wanted Connie Ryan to seek a sale of the company. Wayne Ryan died in 2017.
“The recent Nebraska Supreme Court decision concludes a lengthy and disappointing process,” Connie Ryan said in the statement. “We have been planning for this potential outcome and the financial transaction, while significant, will have minimal impact on our company. Streck operations will continue as normal and staffing levels will not be affected.”
Read more: https://omaha.com/news/local/crime-and-courts/bulk-of-750-million-streck-feud-is-over-but-nebraska-high-court-gives-daughter-another/article_58336a02-a9e9-11eb-86d5-3b6f64201787.html