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Executive Contract Litigation
We have represented numerous executives in the enforcement of agreements, including employment agreements, change of control agreements and various other types of executive arrangements. We have also defended companies in such disputes, including with executives, partners and independent contractors. Often, there are arbitration provisions in such agreements, and we have taken the cases to final arbitration hearings, including several in the last three years. Recent examples of our litigation in this area are the following:
- Bank CEO Termination Arbitration– We represented a Bank CEO in his wrongful termination arbitration demand against the Bank holding company, claiming that he was improperly terminated for “cause.” After a week-long hearing, the arbitration panel held that the CEO's termination breached the agreement because he was denied due process, and that the evidence Bank did not support “cause”. The CEO was awarded approximately $1 million, which included breach of contract damages, pre-judgment interest on contract damages and attorneys’ fees and costs.
- Partner Termination Arbitration– We represented a prominent investment management firm and its managing partners in an arbitration stemming from a complaint filed by a terminated partner. The claimant claimed $8.5 million in damages, including the value of her percent membership interest in the firm. Complex partnership valuation issues and SEC compliance issues were involved. Following a two-week arbitration, most of the claimant’s claims were denied, and the arbitrators accepted the respondents’ valuation, which was a fraction of the amount claimed. The arbitrators also denied claims for punitive damages and attorneys’ fees. Additionally, the panel cleared the individual partners of any personal liability.