NY Court Revives Veritas Claims V. Ex-Stakeholder

Law360, New York (March 17, 2011, 8:15 PM EDT) -- A New York appeals court on Tuesday revived claims brought by hedge fund Veritas Capital Management LLC that a former minority stakeholder pocketed $100 million and violated an employment agreement by helping advertising giant Omnicom Group Inc. structure financial transactions.

The lower court shouldn't have dismissed Veritas' claim for fraudulent inducement against Thomas J. Campbell over allegations that he hid his outside involvement in setting up 13 investment vehicles for Omnicom, according to a unanimous five-judge panel of the Appellate Division of the Supreme Court of...
To view the full article, register now.