A former vice president for a Blucora Inc. subsidiary lost his lawsuit seeking $500,000 in severance benefits because he kept working for the purchaser of his business unit after it was sold.
Blucora’s severance plan allows certain employees to receive benefits following a change in corporate control, but it includes exceptions for those who accept employment with the purchasing company and those who are offered positions substantially comparable to their prior jobs. Plaintiff Charles Ferris III, who previously served as vice president of strategy for a Blucora subsidiary, said he was entitled to benefits because his role following the transaction ...
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