Peter Karmanos Jr. has filed a lawsuit against Compuware Corp. -- the company he co-founded -- to recoup stock options that he says were withheld when he was fired earlier this year after saying the firm’s management needed “to get their head out of their” ass, Robert Snell reports in the Detroit News.
The lawsuit is the latest rift in a battle involving a business mogul, an international software company and a soured deal involving stock options that are potentially worth millions.
Karmanos, 70, sued Compuware on Wednesday in Wayne County Circuit Court, alleging the company fired him from a $3.6 million consulting job Oct. 1 without cause and withheld valuable stock options. Karmanos asked for wants a jury trial and is seeking an unspecified money judgment.
Karmanos alleges he suffered significant damages, including unpaid salary, severance pay, bonuses and stock options.
He made the comments Sept. 20 while receiving an award for his philanthropy; Compuware fired him days later.
Snell could not reach a Compuware spokesman for comment.
A division of Compuware, Compuware Ventures, provided start-up funding for Deadline Detroit.
