Federal Court sides with Winston Calvert Client in TV Station Management Dispute

The federal court in St. Louis ruled today that Raycom Media acted appropriately in terminating stock options and forcing the forfeiture of shares granted to a former general manager of a television station in Cape Girardeau, Missouri.   After the general manager left the station, he went to work for a competing television station.  Under the stock plan's forfeiture-for-competition clause, the former manager lost his stock rights.  Raycom Media was represented by Winston Calvert and Ray Price, former Chief Justice Justice of the Missouri Supreme Court.