Credit: Feodora/Adobe Stock Lengthy Pay Guarantees Were Already the Exception, And Could Be Getting Rarer
Lengthy, multiyear guarantees could be becoming a thing of the past.
September 21, 2023 at 05:00 AM
7 minute read
Compensation guarantees aren't unusual for partners making lateral moves. But lengthy, multiyear guarantees are, and they might be getting rarer, according to some legal industry recruiters.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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