the republic logo

Judge upholds arbitrator's ruling that Compuware must pay $16.5 million to company co-founder

bug
Share/Save/Bookmark

DETROIT — A judge has upheld an arbitrator's ruling that Compuware must pay $16.5 million to the company's co-founder and longtime CEO after he was fired in 2013 from a consulting job.

The Detroit Free Press reports (http://on.freep.com/1zVF42r ) Wayne County Circuit Court Judge Daniel Ryan ruled Monday in the case involving Peter Karmanos Jr., who was stripped of vested stock options with the software and services business.

Ryan ruled that Compuware had no basis to second-guess, modify or vacate arbitrator Gene Esshaki's decision in February to award the money to Karmanos.

Compuware could appeal again to a higher court. The company's attorney Samuel Damren declined comment to the newspaper after Ryan's ruling.

E. Powell Miller, one of Karmanos' attorneys, says a further appeal would be frivolous.


Information from: Detroit Free Press, http://www.freep.com

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.