Publicity Wars: R&CPMK Accuses Ex-CEO of Stealing Clients and Employees to Launch Rival Firm [Yahoo! Finance]
Interpublic Group of Companies, Inc. (The) (IPG)
Last interpublic group of companies, inc. (the) earnings: 4/22 07:00 am
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Source: Yahoo! Finance
Rogers & Cowan, forming a marketing colossus with Berger as chairman and Owens as CEO. Owens has since been fired, and the combined entity — now known as R&CPMK — is accusing him of stealing employees, clients and confidential information to launch 2pm Sharp, a rival publicity firm. In lawsuits filed in New York on Tuesday night and in Los Angeles on Wednesday morning, R&CPMK accuses Owens of secretly organizing an employee exodus. Lindsay Galin and Jeff Raymond, co-presidents of talent, were first to leave on Oct. 1, followed by 11 others over the next two days. The lawsuits claim that the defecting employees breached their duty of loyalty to R&CPMK, which stands to lose “untold revenues from the loss of client business.” R&CPMK must now work to restore the morale of its remaining employees and manage a threat to its reputation as an industry leader, according to the filings. “The Former Employees' conduct is particularly egregious in that some of them were senior executives
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IPG
Earnings
- 10/22/24 - In-Line
IPG
Sec Filings
- 11/8/24 - Form SC
- 10/24/24 - Form 8-K
- 10/23/24 - Form SC
- IPG's page on the SEC website