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In January 2019, Activision-Blizzard terminated the contract of its chief monetary officer, Spencer Neumann. Activision did not say why Neumann was fired, solely that it was a “trigger unrelated to the Firm’s monetary reporting or disclosure controls and procedures.” A Reuters report on the time, nonetheless, stated that it was as a result of Neumann was leaping ship to Netflix.
Two years later, now we have affirmation that that is in actual fact what occurred, as a result of Activision is now suing Netflix for poaching its former government. The lawsuit, obtainable by way of The Hollywood Reporter, says Netflix “knowingly induced Neumann to breach his employment contract with Activision,” and worse, “engaged in tortious conduct when Activision—with Neumann’s help—was negotiating with Netflix over a business partnership to distribute Activision’s linear media content material.”
The go well with says Activision employed Neumann as CFO in Could 2017 for a time period of three years, with an optionally available one-year extension. In trade for “substantial compensation,” Neumann agreed to numerous contractual obligations that dedicated him, in a really common sense, to do his finest for Activision and never reap the benefits of his place for his personal private acquire.
That dedication was short-lived. After Netflix “intentionally and maliciously” labored to pry Neumann away from Activision—an effort that Netflix co-CEO Reed Hastings was “personally concerned” with, in keeping with the grievance, and included a suggestion to pay for his authorized illustration and canopy any penalties arising from the breach of contract—he jumped ship. Neumann’s contract ran till April 30, 2020, however he resigned from Activision on December 31, 2018; two days later, Netflix introduced that he had been appointed as its new CFO.
The lawsuit says that due to Neumann’s sudden departure, it was compelled to pay hundreds of thousands of {dollars} extra to his substitute than Neumann himself would have earned. Activision claims it additionally needed to pony up hundreds of thousands extra to different executives than they have been attributable to earn with a purpose to maintain them from bolting too. Activision desires Netflix to cowl these and different prices, and it is also after punitive damages and an injunction towards what it says is “a sample and follow of unlawfully inducing workers of different rivals to breach their fixed-term contracts.”
“Except Netflix is restrained by applicable injunctive aid from persevering with to raid Activision’s workforce by focusing on its executives who’ve voluntarily entered into enforceable and ongoing fixed-term employment agreements, Activision will proceed to endure irreparable hurt, together with, however not restricted to, dropping the worth of its legitimate fixed-term employment agreements, harm to its enterprise status, workforce, and enterprise alternatives, whereas Defendants will proceed to be unjustly enriched by their tortious and unjust conduct,” the go well with says.
I’ve reached out to Netflix for touch upon the lawsuit and can replace if I obtain a reply.
