3 execs who sold their company to Martin Sorrell’s S4 Capital are suing, alleging they’re owed millions
Three executives who sold their company to S4 Capital are suing the advertising firm, alleging that millions in escrow funds and shares were withheld. The lawsuit adds to the challenges facing Martin Sorrell's company as it attempts to restructure following a period of rapid acquisition.
Why it matters
The legal dispute highlights the risks and complexities of 'roll-up' acquisition strategies in the digital marketing sector.
Martin Sorrell's S4 Capital is being sued by three former employees. Xavi Torrent/Getty Images for Cannes Lions Three execs who sold their company to Martin Sorrell's S4 Capital are suing the ad firm. The lawsuit alleges they're owed millions of dollars and shares. S4 declined to comment on ongoing litigation. Three executives who sold their company to S4 Capital are suing the agency group helmed by advertising mogul Martin Sorrell , alleging it has withheld millions of dollars and shares owed to them. The former CitrusByte execs allege in the lawsuit that S4 engaged "in a campaign of obfuscation and delay" and raised "unfounded claims and arguments" to avoid payment, allegedly withholding at least $7 million in escrow funds and delaying or withholding millions of S4 shares tied to the deal. S4 declined to comment on ongoing litigation.
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