California baseball fans might be interested in a lawsuit that has been filed by a former executive of Major League Baseball’s digital company. The executive filed a lawsuit against BAMTech and Baseball Advanced Media in New York Supreme Court.
According to the court documents, the plaintiff worked for 17 years as the executive vice president of content before he was summarily fired in late 2017. The non-baseball content of BAM was spun off as BAMTech two years ago. In Aug. 2016, Disney acquired a 33 percent stake for $1 billion and later announced an additional 42 percent stake acquisition of $1.58 billion in Aug. 2017.
In 2006, the executive claims that he was given a 2 percent stake in BAM in 2006 by the board of directors. He alleges that he did not receive any money from Disney’s acquisitions and was fired without cause. He reportedly was offered a payment of $2 million to waive his potential claims against BAM, but he declined it. He is suing for fraud, unjust enrichment and breach of contract.
When contract disputes arise, some may be handled outside of the courtroom while others may require litigation. Minor breaches of a contract may be handled through negotiations so that the parties are able to continue with the performance of their duties under the contract. When the breaches are severe enough that it is impossible for the parties to continue, litigation may be necessary to resolve the matters. People who are dealing with contract breaches may benefit by consulting with experienced business law attorneys about how they might protect their rights.
Source: ABC News, “Ex-MLB executive sues, claiming breach of contract, fraud”, March 29, 2018