On Friday January 18 came multiple filings in Parneros v. Barnes & Noble. The bookseller’s former ceo Demos Parneros demanded the company pay his attorney fees and expenses in fighting its counterclaim, again citing the indemnification clause in his contract. While on its face absurd – Parneros is essentially asking BN to pay to sue itself – attorney Anne Clark cites several cases where NY courts “have awarded advancement for officers and directors to defend against claims brought by the corporation itself.” (For better or worse, it puts Parneros in league with fired CBS ceo Leslie Moonves, who has had […]
