A former corporate executive has filed a breach of contract and wrongful termination suit in federal court against a large jewelry company. The former executive claims the company failed to pay him $1 million for his work on a $75 million deal between the company and a private equity firm based in San Francisco.
The claimant also included allegations that he was promised 2 percent of corporate stock reserved for executives of the company. He provided emails from the chief executive officer supporting his claims and added that while he had requested his stock and bonus options, he never got them. In accompanying exhibits, the former employee stated when the lucrative San Francisco deal had closed, the CEO promised company executives would become wealthy shareholders.
In his lawsuit, the former executive states that the CEO had promoted him to a senior position but that he was later let go without notice or cause. Further charges stated the CEO acted in an unethical and deceitful manner regarding the bonus and stock option transactions.
The claimant further states that prior to his termination, he had questioned a company leader's concerns regarding his performing of personal legal work for the CEO and other corporate leaders. He alleges he was forced to work in a hostile environment amidst violations of company policies on sexual harassment and substance abuse.
The CEO has deemed the lawsuit outlandish and declined to comment further, except to wish the former executive the best of luck. At the end of the day, he says people will be aware of the truth.
The former executive was not available for comment, but his legal representatives said the lawsuit should speak for itself.
Hostile work environments, along with breach of contract and wrongful termination, take place at many levels. While the stakes may be higher at the corporate level, they are no less dramatic or disruptive in the lives of employees.
turnto10.com, "Former Alex and Ani exec files wrongful termination lawsuit" Parker Gavigan, Dec. 23, 2013