Warner Music Group mogul Edgar M. Bronfman Jr. is not obligated to pay former Simon & Schuster CEO Richard E. Snyder more than $100 million for work Snyder insists he did to facilitate Warner Music’s purchase by Bronfman’s investment group, the New York Court of Appeals ruled Monday.
The judges decided unanimously that Snyder’s claims for unjust enrichment and quantum meruit are barred by a provision in the statute of frauds voiding every “agreement, promise or undertaking” unless there is “some note or memorandum thereof in writing.”
