The Inbox: Healthcare-News-Free Edition
A rare news recap that has nothing to do with health care reform:
- Live Nation Entertainment has finally found harmony with its former chairman Michael Cohl, settling a dispute over a claim that Cohl owed it money under his severance agreement. When Cohl left Live Nation in 2008, he agreed to pay $9.85 million over two years to buy parts of the business and get out from under parts of a broad noncompete provision. Live Nation sued him in 2010, saying he still owed $5.4 million. Marketwatch.
- An employee who insisted on getting paid under a severance agreement because he was competing with his former employer (apparently the severance agreement did provide for such payments) was socked with $40,000 in fees for his efforts after the trial court granted summary judgment for the employer, which argued that he was not competing with it. Odd. JD Supra.
- Daniel Foreman, an investment fund executive, filed suit against Cardinal Growth Corp., claiming that it misrepresented the value of funds when it asked him to help it find companies to invest in. He seeks $82,000 in unpaid fees, as well as other payments. AltAssets.
- The former chief executive of Extended Stay hotels was socked with a $100 million judgment in that company’s bankruptcy, based on a series of personal guarantees. But he’s not taking the judgment lying down. He’s sued Extended Stay’s bankruptcy lawyers, alleging that their malpractice and breach of fiduciary duty caused the judgment against him. Thomson Reuters.