This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Labels & Publishers Legal
Claims against Bronfman over Warner purchase dismissed
By CMU Editorial | Published on Monday 5 January 2009
A New York court has dismissed that previously reported lawsuit launched by one Richard Snyder against Warner Music top man Edgar Bronfman Jr regarding the defendant’s acquisition of the major record company in 2003.
Snyder, a former CEO of publisher Simon & Schuster, claimed he co-conceived the purchase of Warner Music off former owners Time Warner with Bronfman, and that there was a gentleman’s agreement he would receive a cut of any profits made as a result of the purchase. Bronfman, Snyder alleged, had reneged on that agreement.
Four of Snyder’s six claims against the Warner boss in his 2007 lawsuit were dismissed back in April last year, but two remained – unjust enrichment and quantum meruit (the latter the argument Synder was at least owed something for his services in planning the acquisition). An appellate court considered those two claims just before Christmas and promptly dismissed them.
Bronfman’s lawyer, Orin Snyder (no relation to the plaintiff I don’t think) told reporters: “This unanimous decision is a complete victory for Mr. Bronfman – so much so that the Court imposed court costs on Dick Snyder. We are gratified that the appellate court vindicated Mr. Bronfman and repudiated Dick Snyder’s bogus claims”.
