SVLG Wins More Than $1,000,000 for Executive
SVLG recovered more than $1,000,000 in severance compensation and benefits for an executive of a high tech company. Our client was charged by the board of directors to manage the process of selling this public company's assets. As the main contact with the investment bankers, he led the effort to identify likely buyers, develop and make the presentations to prospective buyers, structure the deal, and negotiate the price and other terms. He then held the deal together, even as bankruptcy, SEC investigations, and other factors threatened to blow it apart. Even though his efforts yielded more than $200,000,000 for the company, the new management terminated him and refused to pay him his bonus or severance. In the U.S. Bankruptcy Court in Delaware, against several of the nation's largest law firms, we prevailed. Our client received 100% of the compensation and benefits that he was entitled to, plus interest and legal fees, and the company honored its obligation to indemnify him.