The directors and officers of the National Center for Policy Analysis (NCPA) successfully concluded litigation surrounding the termination of what had been a 30-year old research and education firm that led the way in private sector solutions to public policy problems.
Following the unceremonious end to the tenures of former CEO John C. Goodman and former COO Richard Walker – after allegations of impropriety by the former that received high-profile coverage in the Dallas press, and other legal actions that followed – the NPCA struggled to survive and ultimately wound down. Litigation ensued to assign fault for the decline of the nonprofit and to appropriately compensate creditors..
After hearing hours of testimony, Judge Stacey G. C. Jernigan of the U.S. Bankruptcy Court for the Northern District of Texas issued a statement on the record from the bench, finding that the directors and officers “acted honorably” and “did the best they could” under the circumstances. There was no finding of liability.
The NCPA officers and directors issued this statement:
We are pleased that the judge was able to resolve this matter. We are grateful for the outcome and for the judge’s words which accurately describe our actions during a tumultuous time at the NCPA.
We would like to thank Heath Cheek, Russell Mills, and Kent Love of Bell Nunnally who skillfully made our case and guided us to a successful resolution.
The NCPA officers involved included James H. Amos, Jr., and Jacki Pick, while directors included Ronald S. Ivy, Reagan Stewart and Michael Whalen.“We were proud to represent Pick, Amos, Ivy, Stewart, and Whalen in this litigation,” said Heath Cheek, Partner at Bell Nunnally. “The overwhelming evidence presented at the hearing demonstrated that the officers and directors acted honorably and acted in the best interest of NCPA. We are grateful that this case was successfully resolved.”