HomeUSA NewsFormer Centerview Banker Sues Agency for Information Over Pay Conflict | gadgetfee

Former Centerview Banker Sues Agency for Information Over Pay Conflict | gadgetfee

(Reuters) – David Handler, a veteran banker who had constructed Centerview Companions’ know-how advisory enterprise, has filed a lawsuit towards his former employer to acquire data that will assist decide how a lot he ought to have earned.

The lawsuit, filed this week within the Delaware Court docket of Chancery, got here after Handler launched his personal technology-focused mergers and acquisitions advisory agency in Silicon Valley.

Handler is looking for entry to Centerview’s books and data, together with the agency’s monetary statements from 2008 to 2022, so he can work out his honest compensation, based on the lawsuit.

Centerview’s co-founders, Blair Effron and Robert Pruzan, provided Handler an “oral” settlement in 2012 that modified how a lot he was entitled to as a accomplice, Handler’s lawsuit states. Handler had obtained the phrases of his employment in writing when he joined Centerview in 2008, based on the criticism.

He began asking for monetary details about Centerview earlier this 12 months after Effron and Pruzan requested him to suggest a brand new association to interchange their oral settlement, in a bid to “attempt to pressure Handler out,” based on the criticism.

Handler sued Centerview after it denied his partnership standing and refused at hand over the data he sought, the criticism states.

“We respectfully disagree that David Handler has any entitlement to the books and data that he calls for, and we’ll defend our place,” a spokesperson for Centerview stated in an announcement.

A spokesperson for Handler declined to remark.

Handler joined Centerview in 2008 from UBS Group AG and had been main its know-how funding banking observe on the West Coast, advising high-profile purchasers together with Cisco Techniques Inc and Qualcomm Inc..

Earlier this week, Handler launched a brand new M&A advisory agency, Tidal Companions, primarily based in Palo Alto, California, alongside along with his former colleague at Centerview, David Neequaye.

(Reporting by Krystal Hu in Los Angeles; Modifying by Matthew Lewis)

Copyright 2022 Thomson Reuters.

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