Vedder Thinking | News Vedder Price Wins Appellate Victory for Leor Energy
Vedder Price Successfully Defends Leor Energy, LLC and Leor Energy, LP against $75 Million Claim
Former President Filed Suit Following Breakdown in Employment Contract Negotiations
Vedder Price litigators recently achieved a significant victory in the Fifth Circuit Court of Appeals for firm clients, Leor Energy, LLC and Leor Energy, LP. After the breakdown of employment contract negotiations that led to his termination, former Leor Energy President William Sullivan filed suit against the Leor entities alleging breach of contract, fraud, promissory estoppel, equitable estoppel and quantum meruit. Based on the equity incentive-laden contract, Mr. Sullivan was seeking in excess of $75 million in damages.
After removing the case from Texas state court to federal court in Dallas, Vedder Price obtained a complete dismissal with prejudice of all claims brought by Mr. Sullivan at the trial court level. In an opinion issued on March 15, 2010, the Fifth Circuit Court of Appeals affirmed the trial court’s dismissal of Mr. Sullivan’s claims with prejudice and awarded costs associated with the appeal to the Leor entities. Mr. Sullivan subsequently sought reconsideration and his petition for panel rehearing was denied. Vedder Price attorneys Anthony J. Ashley , Frederic T. Knape and Cindy S. Stuyvesant each contributed to the success of this matter at the trial court and appellate levels.
The law firm of Vedder Price, established in 1952 in Chicago, consists of more than 250 attorneys in Chicago, New York, and Washington, DC. Litigation Shareholder Anthony J. Ashley represents clients at pretrial, trial, and appellate proceedings in state and federal courts across the United States involving complex commercial matters, including executive employment contracts and compensation. Frederic T. Knape and Cindy S. Stuyvesant are both Associates in the firm’s Litigation practice area.