ALBANY – Warner Music Group mogul Edgar M. Bronfman Jr. is not obligated to pay former Simon & Schuster CEO Richard E. Snyder more than $100 million for work Mr. Snyder insists he did to facilitate Warner Music’s purchase by Mr. Bronfman’s investment group, the Court of Appeals ruled yesterday.
The judges decided unanimously that Mr. Snyder’s claims for unjust enrichment and quantum meruit are barred by a provision in the statute of frauds voiding every “agreement, promise or undertaking” unless there is “some note or memorandum thereof in writing.”
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