I'm not sure.  I remember it being discussed at the time of the takeover, that Briscoe was not sharing some pertinent information with the board that was required in order for the company to function properly.  Being a publically traded company, he is required to release it.  

As well, there was some issue that he had used undisclosed company money for personal use.  
I have never seen the actual charges, but it is indicated that both Briscoe and his wife are mentioned in the lawsuit. 

We'll know next Friday (Mar 5)

Has anyone actually seen the court filing?