Features
Ovitz Suit Settled
Michael Ovitz and billionaire supermarket mogul Ronald Burkle have settled a multimillion-dollar lawsuit involving online business opportunities.
Burkle sued Ovitz in 2005, claiming the CAA co-founder broke a verbal agreement to pool their money on online ventures.
Ovitz countersued, denying a verbal agreement existed and claiming Burkle excluded Ovitz from several other deals.
A federal judge dismissed Burkle’s suit in February.
Ovitz’s suit was scheduled to go to trial August 4. Ovitz attorney Eric George declined to reveal terms of the settlement.