Former CFO Says Lauder Heir Owes $6M In Severance

Law360, New York (August 17, 2011, 2:37 PM EDT) -- An ex-employee of Ronald Lauder, one of the world’s richest men and son of cosmetics legend Estee Lauder, sued his former boss in New York on Monday, alleging he was denied a promised severance package worth more than $6 million.

Jacob Z. Schuster said the billionaire philanthropist fired him without cause from his position of chief financial officer at RSL Management Corp., Lauder's management company, and abruptly terminated a written agreement between the two that guaranteed Schuster 10 years of severance pay worth $600,000 per year....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.