Lawsuit Against Sunrise Dismissed

June 12, 2008

June 12, 2008
According to a report by the Washington Post, the lawsuit filed by the former CFO of Sunrise Senior Living, Brad Rush, has been dismissed, but no one is talking about it.

It is curious, however, that Sunrise has not filed this information with the SEC, since a $13.5 million lawsuit by a former CFO was deemed to be material a year ago, and the dismissal of said lawsuit would also be a material piece of information for investors. The company claimed all along that the lawsuit lacked factual and legal merit, but some people thought where there's smoke, there's fire. The fact that neither side will discuss the matter leads us to believe that the lawsuit was "dismissed" because the two sides had reached a settlement, which if true, should have happened long ago. Otherwise, our guess would be that Mr. Rush had just decided to move on and didn't want to incur additional legal fees.


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