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Fired CertusBank executives file lawsuit protesting dismissals

Three of the co-founders of CertusBank, who were fired earlier this month after investors raised concerns over spending, have filed a federal lawsuit protesting their dismissals.

Milton Jones, Walter Davis and Angela Webb, who are former Bank of America and Wachovia executives, claim that investors made a calculated move to spread false and defamatory information.

Earlier this year, a New York hedge fund manager distributed letters to shareholders in the Greenville, S.C., bank claiming the executives improperly spent money on corporate condos, private jet flights and Carolina Panthers tickets, among other items.