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Interpublic Group of Cos. is seeking $25 million in damages from ex-Lowe & Partners/ SMS co-chairman Marvin Sloves, stemming from Lowe’s loss of the $125 million Mercedes-Benz account, per a recent filing with the American Arbitration Association.
The accusations include breach of contract, breach of fiduciary duty and fraud.
IPG claims Sloves failed to advise it of the “alleged” concerns Mercedes executives had with the agency, or do anything to improve matters as the key client contact.
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