By Krystal Hu
– David Handler, a veteran banker who had constructed Centerview Companions’ expertise advisory enterprise, has filed a lawsuit towards his former employer to acquire information that will assist decide how a lot he ought to have earned.
The lawsuit, filed this week within the Delaware Courtroom of Chancery, got here after Handler launched his personal technology-focused mergers and acquisitions advisory agency in Silicon Valley.
Handler is searching for entry to Centerview’s books and information, together with the agency’s monetary statements from 2008 to 2022, so he can work out his honest compensation, in keeping with the lawsuit.
Centerview’s co-founders, Blair Effron and Robert Pruzan, provided Handler an “oral” settlement in 2012 that modified how a lot he was entitled to as a companion, Handler’s lawsuit states. Handler had acquired the phrases of his employment in writing when he joined Centerview in 2008, in keeping with the grievance.
He began asking for monetary details about Centerview earlier this 12 months after Effron and Pruzan requested him to suggest a brand new association to switch their oral settlement, in a bid to “attempt to pressure Handler out,” in keeping with the grievance.
Handler sued Centerview after it denied his partnership standing and refused handy over the data he sought, the grievance states.
“We respectfully disagree that David Handler has any entitlement to the books and information that he calls for, and we'll defend our place,” a spokesperson for Centerview mentioned in a press release.
A spokesperson for Handler declined to remark.
Handler joined Centerview in 2008 from UBS Group AG and had been main its expertise funding banking observe on the West Coast, advising high-profile purchasers together with Cisco Programs Inc and Qualcomm Inc..
Earlier this week, Handler launched a brand new M&A advisory agency, Tidal Companions, primarily based in Palo Alto, California, alongside along with his former colleague at Centerview, David Neequaye.
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