WPP settles case with ex-Yolk employees in Singapore

According to an International publication, WPP has settled its minority oppression Supreme Court case in Singapore with the minority shareholders of the now-defunct Yolk Pte Ltd, which it acquired in 2010 through Grey Group.

The holding network was sued in August 2016 for the ‘minority oppressive acts’ of Grey Group APAC chief executive officer Nirvik Singh and chief financial officer Ali Belgaumi by the minority shareholders, and retaliated by suing the shareholders for violating their non-competitive covenants.

As per the media reports, after three days of hearings at the Singapore’s Supreme Court, the network and the shareholders in Yolk, including former CEO Ben Tan, have agreed to settle their dispute.

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