Mayer joins Sitrick lawsuit

In April, Richard Wool, a former employee of crisis management firm Sitrick & Co., sued Michael Sitrick, chairman and CEO of the agency, for manipulating the value of its employee stock option plan.

In April, Richard Wool, a former employee of crisis management firm Sitrick & Co., sued Michael Sitrick, chairman and CEO of the agency, for manipulating the value of its employee stock option plan. The Wrap reported at the time:

By undervaluing the price of these shares, the complaint says that Sitrick -- whose clients include Halle Berry, Ron Burkle, Chris Brown and Rush Limbaugh -- was able to regain complete ownership of his company prior to the company's sale last October to Resources Connection, potentially costing shareholders millions of dollars.

This week, The Wrap followed up with the news, reporting that fellow former employee Allan Mayer, now a partner at 42West, joined Wool in the suit. James Brosnahan, an attorney for Sitrick, told The Wrap "Sitrick plans to file a motion to dismiss the suit shortly and will ask for Mayer and Wool to pay attorneys' fees."

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.