Dr. David Kolin Sues USRN
March 12, 2013 at 5:25 AM (PT)
Longtime radio comedy producer and UNITED STATIONS RADIO NETWORK co-founder and EVP/Comedy Dr. DAVID KOLIN is suing USRN for breach of contract and is looking for a declaration that he has "good reason" to terminate his contract, get $671,639 in back salary he says he is owed, have the company buy his shares, and have his noncompete agreement not be enforced.
KOLIN's lawsuit, filed in NEW YORK Supreme Court on MARCH 6th, alleges that CEO NICK VERBITSKY, with help from President JIM HIGGINS and General Counsel MARTIN WEISBERG, "had orchestrated and were carrying out a scheme to divert USRN assets for personal use, and loot the Company at the expense of the other shareholders."
KOLIN also charges that VERBITSKY's salary was "secretly" being raised to over $1.5 million plus perks like car service, a jet share for use to go to his home in FLORiDA, and a "general entertainment" allowance while his own salary, which was supposed to get the same raises, was kept "relatively flat," and raises the issue of WEISBERG's guilty plea to federal financial fraud felonies and still being retained by USRN while adding that "Mr. VERBITSKY was endangering the business by distributing pornography to clients through the Company's e-mail system."
After he told fellow board members in SEPTEMBER 2008 that "it was time to sell USRN" and attempted to buy the company with former CLEAR CHANNEL executive ROB WILLIAMS, ALTA COMMUNICATIONS, and ABRY, KOLIN alleges, VERBITSKY rejected the offer and KOLIN's duties and authority were "drastically reduced" and he filed his resignation for "good reason" on JANUARY 18th. He says he "faces immediate and complete ruin unless this Court grants emergency declaratory relief."
USRN has been contacted for comment.