Four shareholders have filed a lawsuit against former executives of Team Sports Entertainment Inc., which failed to create a stock-car racing league that would compete with NASCAR. That effort, Huntersville-based Team Racing Auto Circuit [see my TRAC page for the past news about it], was abandoned in August. Its first season was supposed to begin this spring. The suit alleges breach of contract, wrongful conversion of company monies, mismanagement, breach of fiduciary duty and fraud. Named in the suit are William Miller, former chief executive of Team Sports, and Jon Pritchett, former president.(more at the Charlotte Business Journal)(3-5-2004)
