Haslund v. Simon Property Group, Inc.

378 F.3d 653 (7th Cir. 2004)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

D decided to form a subsidiary, 'clixnmortar.com,' to create Internet-related services ancillary to its mall business. P was approached to work for the new company but wanted a substantial raise and equity in the new venture. P made clear that unless she was given equity, she wouldn't sign on with the new company. P was not only offered the salary increase that she requested but also one percent of clixnmortar's equity. The deal was confirmed in a letter to P from D's director of human resources that under the caption 'Annual Salary' recited '$ 175,000 plus 1% equity in clixnmortar.com, structure to be determined.' P started at the new job, but no stock was issued to her. P kept badgering D for the stock to no avail, and 10 months after starting work she was fired, having denounced D's boss in an email to a firm that was in the process of acquiring an interest in clixnmortar. The start-up was a failure and eventually dissolved. P sued for breach of contract and was awarded $537,634.41 in damages.