MANHATTAN (CN) – Reed Elsevier sued TransUnion to stop it from hiring away another top-level executive.
Reed Elsevier claims that TransUnion breached a year-old “no-hire” agreement the companies signed after TransUnion hired James Peck, CEO of Reed Elsevier’s LexisNexis Risk Solutions Division, in December 2012.
Peck became TransUnion’s CEO.
“In exchange for Reed Elsevier’s waiver of Peck’s non-competition covenant, Peck and TransUnion made an unequivocal and binding contractual commitment not to hire certain high-level RE LNRS employees through December 31, 2014,” Reed Elsevier says in its federal lawsuit. “Now, just one year after making that commitment to Reed Elsevier, TransUnion is attempting to breach its clear and unambiguous obligations by hiring Armando Escalante (‘Escalante’), RE LNRS’s former Chief Technology Officer (‘CTO’), who is one of the executives TransUnion agreed not to hire until after December 31, 2014. In this action, Reed Elsevier seeks injunctive relief to prevent the irreparable injury the hiring of Escalante by TransUnion will cause to Reed Elsevier.”
Reed Elsevier seeks declaratory judgment, promissory estoppel, a restraining order and injunction and damages for tortious interference with contract.
It is represented by Dennis Orr with Morrison & Foerster.
- Mom Ordered to Get Diploma Wins Review
- Shareholder Derivative