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Atlanta
Business News 6:03 p.m.
Thursday, October 28, 2010
Rollins family lawsuit is all about money
By
David
Markiewicz
The Atlanta Journal-Constitution
The dispute that publicly
splintered one of Atlanta's wealthiest and most private families centers on
the oldest of causes: money.
Changes in the trust distribution plan, proposed this year, would provide
members of future generations of the family with money from the trust.
In August, four Rollins family members -- Glen, Ruth, Nancy and O. Wayne II
-- sued Gary Rollins, their father, and R. Randall Rollins, their uncle. The
latter two, along with Henry Tippie, a Rollins Inc. board member who also
was sued, oversee the trusts. It is unclear how much money is at stake.
The split already has had an impact. Glen, who served as executive vice
president and leader of Orkin, the best known of the Rollins Inc. companies,
was fired from his post after the lawsuit was filed.
In their newly available response to the suit, Gary and R. Randall Rollins,
along with Tippie, explained the reason for creating the Rollins Perpetual
Management Trust.
They stated that, "Randall Rollins and Gary Rollins have presented this plan
to their children so that not only the grandchildren of O.W. Rollins, but
also future generations of the Rollins family, will be able to enjoy the use
of assets that have accrued as a result of the work and vision of O.W.
Rollins, Randall Rollins and Gary Rollins."
O.W. Rollins was founder of Rollins Inc., Gary is chief executive and R.
Randall is the chairman.
Gary Rollins and attorneys for the firm representing the defendants declined
to comment.
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2010 The Atlanta Journal-Constitution |