Bruce D. Schobel, ousted as president-elect of the American Academy of Actuaries, is suing the organization claiming the board used “false and defamatory” information, including an event that took place more than three decades ago, as a basis for removing him.
Mr. Schobel filed the lawsuit Tuesday in U.S. District Court in Washington. The academy's board of directors agreed by a majority vote at an Aug. 5 special meeting to remove him as president-elect.
He was unanimously elected by the board in October 2008 and was expected to become president and director of the academy for a one-year term starting next month. John P. Parks is the current president.
According to the lawsuit, Mr. Schobel claims the board improperly tried to oust him from office based on “false and defamatory” information disseminated about him by academy members hostile to him and “his vision for the actuarial profession.” The information includes “a business dispute involving another, unrelated organization, and events that occurred over 30 years ago,” the lawsuit said. The lawsuit did not elaborate.
Academy spokesman Andrew Simonelli declined to comment on the lawsuit or Mr. Schobel's removal. Mr. Schobel also declined to comment, but posted a statement on the online message board, Actuarial Outpost, in which he wrote: “During the past month, the Board of the American Academy of Actuaries has engaged in egregious and unprecedented behavior that has interfered with and prevented me from continuing my good work as a leader of the actuarial profession and has harmed me personally.”