Ousted Snapchat early employee Reggie Brown was paid $157.5 million in a settlement in September 2014 to close off a 2013 lawsuit he had brought against other co-founders Evan Spiegel and Bobby Murphy, alleging that they had taken his original idea and run with it, pushing him out of the company without compensation in the process. The details were made public for the first time in Snapchat’s …
Poaching in the entertainment industry hit the news late last year when 21st Century Fox accused Netflix, Inc. of poaching employees in Twentieth Century Fox Film Corp. v. Netflix Inc., SC12643. Poaching, or lack thereof (anti-poaching), hit the news this week as Disney settled …
Why it matters to you If you ever consider working for a gig-economy company, this case could be setting a significant precedent. The case isn’t over, but a new chapter on what was once a potential multi-billion dollar class action lawsuit might now settle in the single digit millions. California Uber drivers’ attorney Christopher Morosoff has asked a state judge to accept Uber’s offer of $7.75 …
A CBS shareholder charges in a new legal filing that corporate board members and CEO Leslie Moonves were “recklessly profligate” when they approved nearly $13 million in pay over three years for one-time chairman Sumner Redstone , after it became clear that he was “incapacitated beyond recovery.” The most damning new evidence in the amended complaint, filed in Delaware Chancery Court, comes …
New York City has agreed to pay out as much as $75 million in taxpayer money to settle a long-running class-action lawsuit regarding hundreds of thousands of bogus summonses that lawyers alleged were the product of the NYPD’s quota system . The proposed settlement hit the Manhattan federal court docket this afternoon and still needs a judge’s sign-off. If approved, the …
Former University of Wisconsin-Oshkosh Chancellor Richard Wells is accused of overseeing the illegal transfer of more than $11 million in university funds to support five Oshkosh-area building projects. A lawsuit filed Wednesday in Dane County by the UW System claims Wells and Tom Sonnleitner, retired UWO vice chancellor of administrative services, made illegal financial guarantees between 2010 and 2014 to secure backing for high-profile building projects on and around the Oshkosh campus, and later spent more than $11 million in university funds on …
The proposed $49 billion acquisition by British American Tobacco PLC (NYSEMKT: BTI) of the 58% of Reynolds American Inc. (NYSE: RAI) that it does not already own will, if approved, create the world’s largest publicly traded tobacco company by both revenue and market cap. It will also create the biggest target for more lawsuits related to the harmful effects of tobacco use. Last May, the family …
Northern Trust Corp. will pay more than $4.2 million to settle a lawsuit filed by a group that includes two Pontiac, Mich., pension systems over investment losses that occurred during the financial crisis. The Chicago-based financial services firm violated its fiduciary and contractual duties when it “invested its clients’ assets in risky, long-term investments … that plummeted in value,” the …
West Virginia Attorney General Patrick Morrisey’s lawsuit against a Boone County pharmacy alleges it provided nearly 10 million doses of highly addictive prescription painkillers in just 11 years – all for a county with fewer than 25,000 residents. The Attorney General contends Larry’s Drive-In …
The Game is trying to avoid paying over $7 million in a sexual assault lawsuit that he lost a month ago. The Compton rhymer recently filed court documents to the U.S. Court of Appeals asking for both a new trial and reduction in punitive damages a jury awarded Priscilla Rainey. Back in November, Game was found liable for damages done to Ms. Rainey who was a contestant on the VH1 reality series, …