3 execs who sold their company to Martin Sorrell’s S4 Capital are suing, alleging they’re owed millions
A lawsuit claims S4 owes three former employees millions of dollars and shares owed to them. S4 declined to comment on pending litigation.
Three executives who sold their company CitrusByte to Martin Sorrell's S4 Capital are suing the ad firm, alleging they are owed millions of dollars and shares. The lawsuit, filed in Delaware Superior Court, claims S4 has withheld at least $7 million in escrow funds and delayed or withheld millions of S4 shares tied to the deal. S4 has not responded to the claims.
The executives allege S4 engaged in a campaign of obfuscation and delay, raising unfounded arguments to avoid payment. S4, launched in 2018 by Sorrell, acquired CitrusByte in 2022. The lawsuit highlights the friction in Sorrell's empire-building strategy, which involves acquiring agencies and tech businesses for a mix of cash, stock, and future earnouts.
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