(L-R) Josh Migdal and Michelle Genet Bernstein of Mark Migdal & Hayden. Courtesy photos Executive Compensation: Carried Interest and Terminated Employees
Those who have been—or will be—denied their due have strong claims to recover what they have been promised and what they earned. Employees can now breathe that sigh of relief.
December 13, 2022 at 09:18 AM
5 minute read
Board of Contributors
Private equity executives nationwide collectively breathed a sigh of relief only a few months ago when Sen. Kyrsten Synema (D. Ariz.) held up the passage of the Inflation Reduction Act up until taxation of carried interest as ordinary income was removed.
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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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