Motricity Saga Continues: Company Sues Former Top Executive
“When Steve Elfman, one of Motricity’s highest-ranking executives, left to join Sprint Nextel earlier this year, it appeared to be a bad sign for Motricity, which had just paid $135 million for Elfman’s company, InfoSpace Mobile. But in an interview with us a couple months later, Motricity’s CEO Ryan Wuerch sounded upbeat, and suggested some potential upsides to his departure: “He’s the president at Sprint (NYSE: S), which is a customer.” Sprint was never a good customer, right? “No, it was never a good InfoSpace (NSDQ: INSP) customer, but for Motricity it has been a customer for awhile.”
“Well, that optimism apparently vanished quickly: Just two days after the interview appeared in mocoNews, Motricity sued Elfman, according to the Kansas City Business Journal. The suit alleges that Elfman knew Motricity would only buy the InfoSpace mobile business if he committed to take the job of president and COO and stay for two years after the sale closed.
from mocoNews.net
Personally, I have no opinion on the matter. None whatsoever.