Rarely does a crisis management professional have to use his skills to defend their own reputation. However, as this quote from TheWrap.com explains, we are about to see one of the biggest names in the business take on this very task:
Mike Sitrick, called the Wizard of Spin for his deftness at crisis management for A-list clients, may have some spinning of his own to do.
In a lawsuit filed Monday in U.S. District Court in Los Angeles, Sitrick & Company is accused by a former employee, Richard Wool, of manipulating the value of its employee stock option plan.
By undervaluing the price of these shares, the complaint says that Sitrick — whose clients include Halle Berry, Ron Burkle, Chris Brown and Rush Limbaugh — was able to regain complete ownership of his company prior to the company’s sale last October to Resources Connection, potentially costing shareholders millions of dollars.
With his own name and a large sum of money on the line, Sitrick’s defense is likely to be a premiere example of litigation-related crisis management — for better or worse.
The BCM Blogging Team
https://www.bernsteincrisismanagement.com/