Another setback for Ruralogic. The company, based in Bryan, lost a suit in Federal Court that was filed by the US Department of Labor late last year, alleging improper use of pension funds.
The court ruled against Ruralogic, Inc., its sister company Cirric, Inc. and their owners, Joseph Burmester and C. David Snyder for the full amount sought, which adds up to more than $143,000.
Burmester and Ruralogic are now on the hook for more than $64,000 of that total.
On top of the monetary ruling, Snyder and Burmester each were also barred from serving as a fiduciary or service provider to any Employee Retirement Income Security Act-covered employee benefit plan.