Vince Young stepped down from the board of Young Broadcasting, where he served as non-executive chairman, reports TVNewsCheck.com, citing board member Tony Cassara.
The board changes weren’t publicly announced by the company that bears Vince Young’s family name, the story notes. Young’s departure comes after he aligned himself with a group that unsuccessfully bid to have its bankruptcy reorganization plan chosen over a competing group’s plan, the article adds.
"It ended up that Vince and (former vice president) Jim Morgan had sided with the group that lost, the unsecured lenders," Cassara said. "It’s fair to say there were bad feelings all around."
Cassara also said that a lawsuit Young had filed for compensation of at least $2 million during the company’s bankruptcy has been settled, although he declined to disclose the settlement’s terms, the article adds.