PITTSBURGH — A freight car and locomotive product supplier is suing Richard Mark Cox, its former executive vice president of corporate development, citing alleged breach of contract.
Westinghouse Air Brake Technologies Corp., d/b/a Wabtec Corp., filed a complaint Nov. 20 in the Court of Common Pleas Allegheny County against the defendant, alleging he failed to comply with the terms of Wabtec's 2011 Stock Incentive Plan, to which he agreed and is bound.
According to the complaint, the plaintiff alleges that between Jan. 26, and July 25, Westinghouse Air Brake Technologies Corp., d/b/a Wabtec Corp., was informed by the defendant that he was resigning immediately to accept a position at Stone Canyon, Wabtec's competitor. It reminded Cox that he was prohibited from engaging in the management or operation of a competitor. Otherwise, he may be subject to the clawback of certain gains on options exercised and/or stock performance share awards granted under section 2.4 of Wabtec's 2011 Stock Incentive Plan.
Cox proceeded with his employment with Stone Canyon and Wabtec Corp. sent Cox a notice requiring him to pay pursuant to the plan. The plaintiff holds Cox responsible because the defendant allegedly, as of the date of filing, has failed to comply with his obligations to repay the amount of gains to Wabtec.
The plaintiff requests a trial by jury and seeks an amount in excess of $35,000 mandatory arbitration limit. Plaintiff further seeks for compensatory damages, cost of suit and other relief the court may deem just and proper. It is represented by Thomas Birsic, Melissa Tea and Stefanie Lacy of K&L Gates LLP in Pittsburgh.
Court of Common Pleas Allegheny County Case No. GD-18-015168.