NEW YORK, April 20 /CNW/ - MDC Partners and KBS+P and Interpublic and McCann are pleased to announce the resolution of their dispute and settlement of the lawsuit. The terms of the agreement are as follows: (1) There is no admission of wrongdoing on the part of any individuals or parties involved in the lawsuit. (2) There was no payment of monetary damages or compensation of any kind between the parties. (3) MDC and KBS+P agree that they will not recruit or hire anyone from McCann or solicit or service any McCann clients until after October 31, 2010 (or in two instances January 31, 2011) after which the restrictions in the contracts of the former McCann employees will lapse.
The parties collectively state that they are pleased that the litigation was resolved satisfactorily so that all the companies involved can now focus on the important matter of servicing their respective clients.
About MDC Partners, Inc.
MDC Partners is a progressive Marketing and Communications Network, championing the most innovative entrepreneurial talent. MDC Partners provides strategic solutions and services multinational clients in North America, Europe and Latin America. Our philosophy emphasizes the utilization of Strategy and Creativity to drive growth and measurable impact. "MDC Partners is The Place Where Great Talent Lives." The company's Class A shares are publicly traded on the NASDAQ under the symbol "MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draftfcb, FutureBrand, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe Worldwide, Magna, McCann Erickson, Momentum, MRM Worldwide, Octagon, UM and Weber Shandwick. Leading domestic brands include Campbell-Ewald; Campbell Mithun; Carmichael Lynch; Deutsch, a Lowe & Partners Company; Hill Holliday; ID Media; Mullen; The Martin Agency and R/GA. For more information, please visit www.interpublic.com.
SOURCE MDC Partners Inc.
For further information: For further information: Katie Kempner, MDC Partners, (305) 646-7366, email@example.com; Philippe Krakowsky, Interpublic Group, (212) 704-1328, Philippe.firstname.lastname@example.org