A furious Sir Frank Lowe is demanding a withdrawal by Interpublic Group of claims that he violated his contractual and fiduciary duties when he launched a new London agency late last year [WAMN: 16-Jan-06].
IPG, which owns Lowe Worldwide - the agency network founded by Sir Frank in 1981 and from which he resigned two years ago - filed a legal claim against him last week with the American Arbitration Association.
In response, Sir Frank (65) on Monday issued the following statement: "My legal team is seeking an immediate withdrawal of the claim submitted by Interpublic to the American Arbitration Association on January 13th and an unreserved apology for the allegations contained within it and their press release of the same date.
"The allegations are without foundation and are utterly refuted. If IPG does not withdraw its baseless claims we may seek damages for defamation and tortious interference."
The new and as yet unnamed shop has wooed a number of top London agency figures from Lowe Worldwide's UK arm. Plus its £45 million ($77m; €66m) Tesco supermarket account.
Data sourced from Telegraph.co.uk; additional content by WARC staff