The Inbox

| Zuckerman Spaeder Team

Our hurricane-proof edition of the latest in Suits by Suits news:

  • The last time you flew, was the toilet paper in the loo “exposed,” with an unfolded end square?  Then you weren’t on the jet of Abercrombie & Fitch boss Michael Jeffries.  The Associated Press writes that an age discrimination lawsuit by a former pilot has uncovered an exhaustive flight manual for members of the crew of Jeffries’ jet.  Among the requirements: current issues of magazines must always be on the right side of the credenza.  No hats if it’s over 40 degrees.  And the toilet paper folding, of course.
  • The News of the World phone hacking scandal hasn’t cost Rebekah Brooks, the former CEO of Rupert Murdoch’s News International.  John Burns of the New York Times reports that Brooks took home about $11 million when she resigned last year.  The money may not be gone forever, however: Burns writes that the severance check came with a clawback if Brooks was convicted of a crime related to her employment, and Brooks faces trial next year on charges related to the hacking.
  • Unlike Brooks, Citigroup’s former CEO Vikram Pandit is not expected to receive any severance, based on an analyst’s review of company filings.  According to WSJ Marketwatch’s report, none of Pandit’s equity awards accelerated their vesting upon his termination.  But Pandit may still be sitting on a Scrooge McDuck-level pile of cash, since he raked in $165 million from the sale of his hedge fund to Citi and made $56 million during his tenure as CEO.
  • The former chief operating officer of a Chicago-based doctors’ group is under fire.  Liam Ford of the Chicago Tribune writes that Mark Singer now faces criminal embezzlement charges in addition to the group’s lawsuit against him for stealing by “padding his bonus checks and charging dating services, international vacations, weapons and camera equipment to his expense account.”  On the bright side, when dating, conversation about international vacations, weapons and camera equipment is always a hit.

Information provided on InsightZS should not be considered legal advice and expressed views are those of the authors alone. Readers should seek specific legal guidance before acting in any particular circumstance.

As the regulatory and business environments in which our clients operate grow increasingly complex, we identify and offer perspectives on significant legal developments affecting businesses, organizations, and individuals. Each post aims to address timely issues and trends by evaluating impactful decisions, sharing observations of key enforcement changes, or distilling best practices drawn from experience. InsightZS also features personal interest pieces about the impact of our legal work in our communities and about associate life at Zuckerman Spaeder.

Information provided on InsightZS should not be considered legal advice and expressed views are those of the authors alone. Readers should seek specific legal guidance before acting in any particular circumstance.

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