https://www.beckerspayer.com/legal/elevance-sues-former-network-exec-to-block-oscar-move/
The company's legal department is certainly earning their keep, fighting multiple class actions while concurrently suing multiple former employees.
9 replies (most recent on top)
@d6 Here's my best guess, after they also sued SH for similar: the new company was aware that the exec in question would be sued, and has already factored the cost of defense into hiring.
Everyone knows that execs at this level are under non-competes; if they hire them anyway, they're aware of and willing to defend a lawsuit on their behalf.
They are selective in who they go after as several from carelon left to go to competitors in same roles but no lawsuit.
@j0 Yup! much of the SLT are useless but JV was a Wall Street wannabe poser and a total bully in my opinion. Good riddance.
@f5 They won’t learn. Corporations like this have absolutely no desire to have honorable persons in VP roles. They would laugh at such a notion. No, they purposely by design want the absolutely slimiest “used car salesman” type of persons they can find.
I guess the lesson for leaders here would be: when hiring slimy characters into leadership, don't be surprised when they do slimy stuff on their way out.
@OP Mr. Vidor’s employment and stock agreements at Elevance included a 12-month noncompete policy. He received roughly $965,000 in equity grants in March alone, each with its own noncompete terms.
Pretty clear, can't read, doesn't think contractual agreements apply to him and the STRUGGLE of trying to live on a million bucks. Cry me a river
@ag Yes, a lot of it is because of outsourcing, yes, but most of it is due to AI and leaders see the writing on the wall.
I am watching 60 Minutes right now about AI and it will most definitely reduce the human workforce.
Unfortunately, most people are slow to recognize and slow to react and speak out.
The AI vendors knew all along that AI would replace most workforce. But their jib was to sell AI. And honestly warning us about it replacing most of the human workforce would have flown in the face of their salesmanship.
Deterrence exercise for others who might think about taking the same direction. What we really need to think about is why are top players leaving on their own accord - with $1M in stocks and bonus. Pay attention, folks. Things are going to only get worse.
Every squirrel finds a nut once in a while. But I bet the company has had to settle more lawsuits than they have won.
So stop trying to intimidate. We are NOT scared.