A federal lawsuit seeking millions of dollars has been filed against the officers and directors of the now defunct New River Industries and Dillon Yarn Company, which was a partner company, in Federal Court.

Those officers and directors named in the lawsuit include Stephen Wener, describing himself as New River Industries director, President and Chief Operating Officer Kenneth Ehrhardt, Chief Executive Officer Barry Morrow, Executive Vice President Paul Poandl, Controller and Chief Financial Officer Raymond Hutchinson and board of director’s members William Cohen, Howard Rubin, Kurt Borowsky, Douglas Smith and John Hickey. Also named is Dillon Yarn Corp., a company in which Wener and Cohen are principals and which the lawsuit says improperly received millions of dollars of New River Industries' assets.

The Pulaski County company, which filed for bankruptcy protection last August, alleges its management manipulated financial figures to improperly gain more than $5.5 million in loans from a Chicago-based finance group, according to the suit.

Bridge Healthcare and Bridge Opportunity, parts of the Bridge Finance Group, are still owed about $1.5 million, the lawsuit claims.

New River Industries, which was formally located in Fairlawn, made fabric used in clothing linings and at one time, employed around 500 people in its two plants.

The lawsuit is asking for triple damages plus punitive damages and attorneys fees.

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