Reuters - How a Texas shale supplier's founders made fortunes as the firm failed
Aug 13 (Reuters) - On July 7, the board of directors at Texas fracking sand supplier Hi-Crush granted nearly $3 million in bonuses to four top executives, including $1.35 million for CEO and founder Robert Rasmus.
Five days later, the company declared bankruptcy.
The payout marked the latest in a series of board decisions that allowed the oilfield supplier’s top executives and founders to rake in tens of millions of dollars as shareholders saw the stock price plummet to pennies.
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