A judge has upheld an arbitrator’s ruling that Compuware must pay $16.5 million to the company’s co-founder and longtime CEO after he was fired in 2013 from a consulting job.
The Detroit Free Press reported that Wayne County Circuit Court Judge Daniel Ryan ruled Monday in the case involving Peter Karmanos Jr., who was stripped of vested stock options with the software and services business.
Ryan ruled that Compuware had no basis to second-guess, modify or vacate arbitrator Gene Esshaki’s decision in February to award the money to Karmanos.
Compuware could appeal again to a higher court. The company’s attorney, Samuel Damren, declined to comment to the newspaper after Ryan’s ruling.
E. Powell Miller, one of Karmanos’s attorneys, said a further appeal would be frivolous.