IPG's Claims Vs. Sloves Rejected

Panel Dismisses Charges; Parallel Lawsuit Remains in Court
NEW YORK–A panel of arbitrators has deemed “unpersuasive” Interpublic’s claims that former Lowe & Partners/SMS chairman Marvin Sloves “tortiously interfered” with Lowe’s relationship with Mercedes-Benz, thereby causing the $125 million account to move to Merkley Newman Harty last year, sources said.
Lowe parent IPG had asked the panel to nullify Sloves’ consultancy contract on the grounds he entered into it fraudulently. As a result, IPG claimed that Sloves forfeited future compensation.
But the American Arbitration Association, in a decision expected to be revealed this week, found that IPG’s claims were “flatly and credibly contradicted” by the evidence, sources said.