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.

Attorneys

Elkan Abramowitz

Practice