media executive Ray Katz and Omnicom have settled their law suit. Terms were not disclosed.
Last fall, Katz sued Omnicom, its OMD and Optimum Sports subsidiaries and the former CFO of those
units, Mark Amabile, for discrimination, wrongful termination and fraud in connection with his being laid off from his post as managing director at Optimum Sports in late 2009.
original complaint said he was seeking a minimum of $3 million plus attorney’s fees and other costs.
Katz, now a managing partner at sports marketing firm Source1 Sports, could not be
reached for comment. An Omnicom spokeswoman said that the company “doesn’t have any comment on the settlement.” A lawyer for Katz replied “no comment” when asked about
the case via email.
Katz alleged that he was discriminated against on the basis of his age (he turned 50 while at Optimum); his religion (Judaism) and his marital status (single). He also
alleged that Omnicom and its subsidiaries engaged in accounting fraud in violation of the Sarbanes Oxley Act because, he asserted, the holding company attributed revenue generated by his department to
other Omnicom subsidiaries in direct violation of the Sarbanes Act.
Omnicom disputed the allegations and last November asked a New York State Supreme Court judge to dismiss the suit. Court
records show the case was disposed of last month.