Allan Mayer, partner and head of the Strategic Communications Division at entertainment PR powerhouse 42 West, has joined his former colleague Richard Wool in a lawsuit against their former boss, Michael Sitrick.
They allege Sitrick devalued the Sitrick Employee Stock Ownership Plan to the tune of millions of dollars.
The New York Times spoke with James J. Brosnahan Jr., who is representing Mr. Sitrick, and said the suit is “based on mistakes of fact.”
Joseph Giunta, who at the time said he was general counsel for Sitrick And Company and Michael Sitrick, told PRNewser a few weeks ago that Sitrick, “was sued by one former employee. Not a single current or former employee has joined in the suit and though he claims to have sued on behalf of the ESOP, the court has not granted him that right.”
Another angle to this latest development is that Mayer worked with Sitrick on his book, Spin.