Monster beats at trial multi-million dollar fees lawsuit brought by boutique investment bank in engagement letter dispute
Clients Monster Worldwide, Inc.
Jones Day successfully defended online employment company Monster Worldwide, Inc., which runs the online recruiting and employment website Monster.com, against Stone Key Partners LLC's claims for millions of dollars in alleged fees and expenses. On August 10, 2018, following a bench trial, District Court Judge Jesse Furman found that Monster did not owe the boutique investment bank any fees for Stone Key's role in evaluating strategic alternatives under an April 2012 engagement letter between Stone Key and Monster. Judge Furman held that the none of the three transactions at issue fell within the terms of the agreement, while finding another key contractual provision unenforceable.
Stone Key Partners LLC et al. v. Monster Worldwide, Inc., No. 1-17-cv-03851 (S.D.N.Y.)