In Jury Trial, Morvillo Abramowitz Wins Civil Actions for Client Donald Drapkin Against Ronald Perelman Companies
January 27, 2012
After 90 minutes of deliberation, a Southern District of New York jury awarded Morvillo Abramowitz client, Donald Drapkin, a judgment in excess of $16 million in two civil actions, Drapkin v. Mafco Consolidated Group LLC, No. 09 Civ. 4513 (SDNY) and MacAndrews & Forbes LLC v. Drapkin, No. 09 Civ. 1285. For 20 years, Mr. Drapkin served as Vice Chairman of MacAndrews & Forbes, a company wholly owned by its Chairman and Chief Executive Officer Ronald O. Perelman. Mr. Drapkin brought a breach-of-contract lawsuit against his former employer in 2009, when the company ceased to honor payment obligations it had to Mr. Drapkin under his severance agreement and a stock purchase agreement. In countersuit, MacAndrews & Forbes alleged that Mr. Drapkin had materially breached 5 provisions of his severance agreement. On Friday, January 27, 2012, the jury found that Mr. Drapkin had adhered to the terms of a 2007 separation agreement when he left MacAndrews & Forbes, Mr. Perelman’s holding company, and was owed $16 million from that agreement. Together with attorneys at Hogan Lovells, Mr. Drapkin was represented by Elkan Abramowitz, Thomas M. Keane, Sid Kamaraju, Christopher W. Robbins, and Max Rodriguez.