Stradling Obtains Favorable Mid-Arbitration Settlement

Stradling obtained a favorable mid-arbitration settlement. In late 2005, Stradling’s client assembled a team to launch a new business line, which included the plaintiff’s principal. But the plaintiff’s involvement jeopardized the business line’s potential success, which led our client to separate from the plaintiff via a contract that provided him with 20% of the business line’s net profit. 

The business line was an incredible success without the plaintiff’s active participation.  After the plaintiff accepted more than $30 million in net profit payments, the plaintiff filed the arbitration in 2021 seeking an additional approximately $20 million.  The arbitration was proceeding in our client’s favor, when the plaintiff allowed our client to buy out his contract on terms favorable to our client.