A particularly intriguing bench ruling will mean that in order to sue the fired executive, the bookseller must pay a substantial portion of his legal fees
Catching up with PW's Andrew Albanese
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On Monday in a Manhattan courtroom, Judge John Koeltl, US District Judge for the Southern District of New York, handed down several key decisions in the ongoing legal battle between Barnes & Noble and its fired CEO Demos Parneros, reports Andrew Albanese, Publishers Weekly senior writer.
“Judge Koeltl ruled from the bench that a key counterclaim filed against former CEO Demos Parneros for alleged misconduct and ‘disloyal’ behavior can proceed,” Albanese tells CCC’s Chris Kenneally. “Koeltl also ruled that B&N must pay Parneros’s legal costs and fees in advance for defending himself against B&N’s countersuit.”
The decision to allow B&N’s full countersuit to proceed was not unexpected, Albanese says.
“It was something of a surprise, though, that Koeltl agreed with Parneros’s attorneys that a broad indemnification clause in the former CEO’s employment contract was so sweeping that it could reasonably be read to extend beyond third party suits. I know I was surprised.”
Every Friday, CCC’s “Beyond the Book” speaks with the editors and reporters of “Publishers Weekly” for an early look at the news that publishers, editors, authors, agents and librarians will be talking about when they return to work on Monday.
