Federal Court Lets 4 Claims Against MCP Holdings Proceed Over Vested Stock Options
Updated
Updated · Bloomberg Law · Jun 26
Federal Court Lets 4 Claims Against MCP Holdings Proceed Over Vested Stock Options
1 articles · Updated · Bloomberg Law · Jun 26
Summary
A federal district court refused to dismiss a former MCP Holdings senior vice president’s lawsuit, allowing four claims to move forward.
The court found plausible his allegations that MCP improperly canceled vested stock options and sent defamatory letters to his new employer.
The surviving claims include defamation, tortious interference, breach of contract, and violations of the Pennsylvania Wage Payment and Collection Law.
The ruling keeps the dispute alive at an early stage, with the court deciding only that the allegations were sufficiently supported to proceed.