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IPG faces new bout of legal wrangles.(Interpublic Group of Companies Inc.)(TPD)(Brief article)
Interpublic is facing a second court battle relating to the handling of its finances, after the former shareholders in the UK customer publishing agency TPD instigated action against the holding company.
Simon Kelly, Julian Treasure and Christopher Lee, the main shareholders of TPD, since rebranded as Just, have filed an action in the Federal District Court for the Southern District of New York. They allege IPG was responsible for 'breach of contract', 'breach of warranty', 'intentional misrepresentation' and 'fraud '.
TPD was sold to IPG for around pounds 5 million in 2001, 50 per cent of which was ...
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