• Wed. Nov 29th, 2023

    New Craft Brewery Brand Accused of Financial Misconduct

    ByNuala Hafner

    Nov 20, 2023
    New Craft Brewery Brand Accused of Financial Misconduct

    In a recent lawsuit filed in Hampden Superior Court, it has been alleged that two majority shareholders of the popular craft brewery, Tree House Brewing, have engaged in financial misconduct. The lawsuit claims that Nathan P. Lanier and Damien L. Goudreau paid themselves salaries that were deemed “excessive,” secretly invested $16 million in real estate holdings, and unjustly withheld proceeds from a minority shareholder.

    Tree House Brewing, which originated as a small craft brewery in Charlton in 2011, has experienced remarkable success over the years. It has since expanded its operations, establishing breweries in Massachusetts and Connecticut, as well as acquiring a golf course in Tewksbury and an oceanfront brewery on Cape Cod.

    However, amidst the brewery’s success, a 2% shareholder named Eric Granger has stepped forward with allegations against the majority shareholders. Granger contends that Lanier and Goudreau have taken advantage of their positions, unfairly benefiting themselves at the expense of other stakeholders.

    While the exact details of the alleged financial misconduct have not been disclosed in the lawsuit, it highlights a concerning issue within the craft brewery industry. As these businesses experience rapid growth and increased profitability, there may be instances where financial improprieties occur.

    It is essential for craft breweries to ensure transparency and integrity in their financial operations to maintain the trust of their stakeholders. By doing so, they can uphold their reputation as responsible and ethical businesses.

    FAQ:

    Q: Who are the majority shareholders accused of financial misconduct in the lawsuit?
    A: The majority shareholders accused in the lawsuit are Nathan P. Lanier and Damien L. Goudreau.

    Q: What are the allegations against the majority shareholders?
    A: The allegations include paying themselves “excessive” salaries, making secret investments in real estate, and cheating a minority shareholder out of proceeds.

    Q: When was the lawsuit filed?
    A: The lawsuit was filed on November 15th.

    Q: What is Tree House Brewing’s current business footprint?
    A: Tree House Brewing owns breweries in Massachusetts and Connecticut, a golf course in Tewksbury, and an oceanfront brewery on Cape Cod.