When news broke earlier this week that Town Residential founder Andrew Heiberger was no long the company's CEO, it was unclear what led to his departure. Well, he was fired. He was dismissed on January 22 for "bad acts" and poor performance, and the termination noticed said that the firm's equity partner Joseph Sitt of Thor Equities reserved the right to buy Heiberger's 50 percent ownership. Heiberger has filed a lawsuit against Sitt, arguing that his dismissal was invalid and seeking $60M in damages. [TRD]
Filed under:
Loading comments...