The team at Cosgrove Simpson recently wrapped up a two-week arbitration representing a CEO and financial advisor in his claims for breach of contract and fraud against his former business partner (the "purchaser"). The advisor sold his RIA business with over two billion dollars in assets under management in exchange for a cash payment, company stock, and performance incentives. The purchaser paid the cash consideration at closing, but refused to convey the stock and performance incentive consideration despite the fact that our client had already achieved the required performance milestones before the relationship soured. Making matters worse, the purchaser sought damages in excess of the total purchase price. Cosgrove Simpson was instrumental in the Arbitration Panel's decision to strike down an egregious 15x revenue liquidated damages provision in the advisor's employment contract.Please reach out if you are interested in learning about how Cosgrove Simpson could help represent you in a similar matter.
