The latest salvo in the Tyco International litigation involves former Tyco director Frank Walsh Jr. and a $20 million “finder’s fee” former CEO Dennis Kozlowski awarded him in connection with Tyco’s 2001 acquisition of CIT Group. On Oct. 5, a federal judge ruled that Tyco could admit evidence relating to attorney fees incurred as a result of its internal investigation of the finder’s fee, which Walsh received without board approval.
The court also ruled that Walsh could put forth an expert witness he claimed to have relied on in accepting his fee. Tyco’s attorney, Mark Levine of Bartlit Beck Herman Palenchar & Scott, did not return phone calls for comment. Neither did Walsh’s attorney, Michele Pahmer of Stroock & Stroock & Lavan.
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