On March 29, 2018, Wigdor LLP filed a lawsuit on behalf of former MLB Advanced Media, L.P. (“BAM”) executive John Dinn Mann against BAM and BAMTECH, LLC (“BAMTech”).
Mr. Mann, the former Executive Vice President of Content at BAM, spent over 17 years transforming the media arm of Major League Baseball into a multi-billion dollar powerhouse. He alleges that he was granted 2% equity in BAM’s “non-baseball business” (now d/b/a BAMTech) during a June 2006 board meeting. The lawsuit alleges Mr. Mann was awarded the equity stake to prevent him from leaving the company to join sports marketing firm IMG.
As alleged, despite the fact that Mr. Mann is a 2% owner of BAMTech, he received no compensation when Disney recently paid approximately $2.6 billion to purchase 75% of BAMTech. According to the Complaint, Mr. Mann was fired without cause at the end of 2017 and that both BAM and BAMTech have since advised Mr. Mann, without any coherent explanation, that he is not actually an equity owner of BAMTech. Mr. Mann is seeking damages for breach of contract, breach of the implied covenant of good faith and fair dealing, promissory estoppel, unjust enrichment and fraud.
— Hollywood Reporter (@THR) March 29, 2018
Statement from Douglas H. Wigdor, Founding Partner of Wigdor LLP, and Michael J. Willemin, Partner of Wigdor LLP:
“Mr. Mann spent 12 years building BAMTech from nothing into the $3.75 billion company it is today. As alleged in the Complaint, when it came time for BAM to make good on its agreement to pay Mr. Mann 2% of the equity it had previously granted him, it decided instead to cast him aside and renege on its promise. Companies should not be permitted to treat dedicated employees in this manner, and we look forward to holding the defendants accountable.”