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
