Insurance slugfest with accusations of espionage

A Richmond-based insurance company thinks its former CEO went rogue and broke his contract when he left to start a competing firm. The company wants its day in court and an injunction against the upstart.

The startup, meanwhile, says it followed all non-compete clauses and that it’s  ploy to drown it in legal fees before it can launch successfully.

For six years, Mike Kehoe was the boss at James River Insurance. He helped get the company going in 2002 and helped it grow. He also helped sell it for $575 million in 2007, pocketing $6.4 million in stock options and bonuses, according to the lawsuit. Read more