Legal

Bronfman wins lawsuit over proceeds of Warner purchase

By | Published on Tuesday 24 November 2009

The New York appeals court has upheld a lower court ruling in favour of Warner Music boss Edgar Bronfman Jr, who was sued by a former friend and associate who helped Bronfman mastermind his acquisition of the Warner music company back in 2003.

Richard Snyder, a former CEO of publishers Simon & Schuster, sued Bronfman in 2007. He claimed he helped Bronfman plan his big Warner purchase, and had been promised a cut of the proceeds of the acquisition as part of a gentleman’s agreement. Said cut never materialised, which is why Snyder sued.

A lower court previously rejected Snyder’s claim and, according to the New York Times, the New York State Court Of Appeals yesterday upheld that ruling.


GET MORE CMU


SIGN UP TO CMU FOR FREE | GO PREMIUM | LISTEN TO THE CMU PODCAST | GET TRAINED

OR READ MORE ABOUT: