Interpublic Group of Cos. and former Lowe
& Partners/SMS (now Lowe Lintas & Partners Worldwide) executive Marvin Sloves settled their respective pending lawsuits, including arbitration, between them. No details of the settlement were released. Interpublic sued Mr. Sloves last year after Lowe & Partners' high-profile loss of the $100 million Mercedes-Benz account. Mr. Sloves countersued and filed for arbitration over wages he claimed Interpublic owed him. In January, the arbitration ended in Mr. Sloves' favor with the order for Interpublic to pay him $1.3 million in pay and benefits. Interpublic said at the time that it would file for a stay on the arbitration award until the lawsuit was settled.
Copyright April 2000, Crain Communications Inc.