Curtis Burton, who founded Buccaneer in 2006, alleges that the company owes him around $2.4 million in compensation and additional benefits after the board of directors terminated his current three-year contract, which was signed in 2012.

"This termination was wholly without cause," says the lawsuit, which was filed in Harris County District Court last week.

Buccaneer said in a news release that it had suspended Burton with pay, pending a review.

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