Harris St. Laurent & Wechsler Secures $3.9 Million Award for Client in Compensation Dispute

April 22, 2024

Harris St. Laurent & Wechsler LLP partner Todd Gutfleisch and counsel Daniel Grossman won a $3.9 million award for Adam Vore, a former Seaport Global Holdings LLC managing director. Vore filed suit after Seaport failed to provide him with compensation for a 2017 transaction.

Vore’s offer letter with Seaport provided that Vore would receive 80% of net fees related to transactions he “sourced and placed” before December 31, 2017. At issue was a transaction with a Canadian company, where Seaport originally took the position the deal did not close by December 31, 2018 and that Vore did not “place” the transaction because Vore did not introduce the company to the counterparty.  This original dispute was resolved with Seaport promising to pay Vore by transferring to him approximately $3 million in company shares, and Vore agreeing to pay Seaport $616,000. Seaport never transferred the shares.

After a six-day bench trial, Justice Joel Cohen of the New York County Supreme Court Commercial Division found that Seaport failed to perform the second agreement and that the parties had to revert to the original agreement, awarding nearly $4 million for Vore. The court also found that Vore must pay the $616,000 to Seaport, as stated in the second agreement.

Mr. Gutfleisch is an employment lawyer and litigator who provides practical advice and aggressive advocacy. He represents individuals and companies in the financial industry in all aspects of the employment relationship. He is ranked by Chambers in Labor and Employment: Mainly Plaintiffs and as a Leading Plaintiff Employment & Civil Rights Lawyer by Lawdragon.

Mr. Grossman is a counsel in HSW’s employment practice and advises clients at every step of the employment process, including contract negotiations, severance agreements, and evaluation of discrimination claims.