NJ Biotech Co. Can't Dodge Former CFO's Exit Package

Law360, New York (March 4, 2014, 3:27 PM EST) -- A New Jersey appellate panel on Tuesday ordered Proteonomix Inc. to pay its former chief financial officer a $225,000 exit package, ruling the employee’s alleged misrepresentations to the biotechnology company about his qualifications did not constitute fraud.

A two-judge panel on the Superior Court of New Jersey, Appellate Division, ruled against Proteonomix, which sought to withhold the $225,000 payment from its former CFO, Robert Kohn, on the grounds that Kohn misrepresented his ability to do the job, thereby fraudulently inducing the company’s agreement to the separation package....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.