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Parent Files Suit Claiming False Info in Deal With Wickersham
BOSTON–Snyder Communications has filed suit against the principals of Berenson, Isham & Partners alleging misrepresentation. The lawsuit stems from the buyout last year of Berenson, Isham by Wickersham Hunt Schwantner. The deal was funded with Snyder stock.
Snyder, the publicly traded Bethesda, Md.-based firm that owns both Wickersham and Arnold Communications, filed the suit in Suffolk Superior Court in Boston alleging that “Berenson and Isham had made material misrepresentations and failed to disclose critical information to Snyder concerning the status of [the agency’s] business and its troubled relationships with a number of primary [clients].”
The suit alleges that “client relations problems” between Berenson, Isham and several key accounts, including Club Med, Boston Acoustics, Fidelity Investments and Wearguard, were not communicated to Snyder at the time of the sale [Adweek, Nov.
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