WA US Senate Canditadte..McGavick Sued Over Safeco Pay

[rsmith6621]

August 1, 2006

By Associated Press



The shareholder claims the former executive's $28 million payout for leaving the company was fraudulent and wasteful.

OLYMPIA - A Safeco Insurance Co. shareholder has sued Republican U.S. Senate hopeful Mike McGavick, claiming the former executive's $28 million payout for leaving the company was fraudulent and wasteful.

The claim resembles criticism from Washington state Democrats, who have filed a separate federal campaign complaint alleging that McGavick's "golden parachute" amounted to an illegal campaign contribution.

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