Rich May: News

November 2007

Rich May Defeats Motion for Injunction

Rich May’s clients, a technology consulting services firm and its directors and shareholders, were sued by a former executive of the company. The former executive claimed that the company had bound itself, through negotiations and the exchange of draft agreements, to employ him for a long term and to sell him stock amounting to more than 25% of the equity in the company. At the outset of the lawsuit, the former executive moved for an injunction to prohibit the company from distributing any amounts to the shareholders beyond their previously-established salaries, and to require the company to re-employ him immediately. Rich May argued that this was a case of failed negotiations between sophisticated businesspeople, and that no contracts were formed. The Court agreed that the former executive was not likely to succeed on the merits of his claims, and denied his request for an injunction. The case settled shortly thereafter on terms favorable to Rich May’s clients. Rich May’s Frank Gaeta served as lead counsel to the defendants.

About Rich May

Rich May, a mid-size law firm located in Boston’s financial district, concentrates its practice on corporate, financial, civil litigation, energy, real estate, entertainment and wealth planning matters. The firm’s clients include a broad group of businesses in New England and throughout the country. Rich May provides the breadth and depth of expertise generally associated with large, national firms, while maintaining the prompt, personal service found in smaller, regional firms. Our clients have direct access to experienced attorneys who are familiar with both the client and the area of inquiry and can provide timely and practical legal solutions. Rich May has been elected and admitted as a member of the International Alliance of Law Firms. This membership, which provides affiliations with 53 firms in 37 countries, supplements our ability to assist clients throughout North America and overseas. For more information visit www.richmaylaw.com