Investors Say Dillard's Family Took Advantage

LITTLE ROCK (CN) – Directors of Dillard’s department stores – three of them members of the Dillard family – unjustly enriched themselves with “millions of dollars in salary, cash bonuses and stock awards” during “one of the worst financial periods for the company in its history,” shareholders say in a federal class action. They claim the fiasco started when William Dillard II became CEO in 1998.     Plaintiffs demand restitution and damages for abuse of control, unjust enrichment, breach of contract, breach of duties, waste of corporate assets and gross mismanagement. They are represented by Alex Streett of Russellville, Ark.