Charney & Sullivan Reach Settlement

Today the NY Law Journal reports that Sullivan & Cromwell has announced a settlement with Aaron Brett Charney.  The terms are confidential, according to the Law Journal.  A settlement had been expected, because few thought that Sullivan & Cromwell really wanted to expose their partners to being deposed on the record in this case, much less to testify in open court.  S&C's attempts to get rid of the case through motions to dismiss having proved unsuccessful, a settlement was in the cards.  Now the question that everybody will be asking is.... will Aaron Charney ever have to work again?

PS - Comment added on November 3 - I understand from chatter on other blogs that despite the lack of information due to the confidentiality agreement, the most "informed" (by past experience) chatter is that the settlement was not likely to involve quite so much money, based on the idea that settlements prior to discovery tend to involve less than settlements after discovery, where discovery persuades the employer that a trial would be risky, or perhaps that trial would be prolonged and would cost the employer more than it would have to pay to settle.  In any event, while we don't know the settlement amount, I continue to feel that it might be substantial because S&C doesn't want to expose its partners to depositions and/or testimony in court.  This is assuming, of course, that Charney's factual allegations in both complaint and depo are fairly accurate, and that Grinberg would back him up in testimony about the famed January 31 meeting.

Comments

[tenyearsgon]

Yes. Charney will have to work again. The real question is: "Who will have him?"

[Art Leonard]

Solo practice? Partnership with Gera Grinberg to do boutique M&A work?