Steven Glick and Gregory Lipstone, both of whom resigned last year after more than 20 years at WMA, are seeking unspecified damages for fraud, accounting and other claims from defendant WMA and unnamed co-conspirators. The Los Angeles Superior Court filing alleges that members of WMA's executive committee granted themselves bonuses that were improperly counted as operating expenses, thus reducing the net profits used to calculate the company's stock value and the amount of profits shared with other "members" who owned the privately held company. In effect the Executive Committee picked a false number as a profit and worked backwards to allocate.

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