Verve And Former CEO Bill Weinstein Come To Settlement Agreement Following His Departure From Agency

After filing a breach of contract lawsuit after departing the agency, former Verve and former CEO Bill Weinstein have agreed on a settlement. Details behind the settlement are unknown. Verve co-founders Bryan Besser and Adam Levine’s attorney, Julie Gerchik at Glaser Weil, released a statement that you can read below:

“The parties have amicably resolved their dispute, and have reached a confidential settlement in principle.”

Weinstein had filed the suit with the Los Angeles Superiour Court stating he was kicked out this month for “without any notice, reason, cause or an opportunity to cure.” (Read the complaint here). This settlement settles that suit so it will no longer be heading to court.

Weinstein could not be reached for comment. While not confirmed sources say Weinstein will be setting up a new shop called Novo and bringing with him his clients and former Verve agents Devon Schiff, Matthew Doyle and Jake Dillman.

The settlement closes the loop and story that had sent shockwaves through the industry following his departure, given that he co-founded Verve in 2010 along with Bryan Besser and Adam Levine. Weinstein was given the CEO title last year and sources close to Verve said no replacement would be named and that the responsibilities of that role will be shared by the founders and managing partners.

The exact reason that led to his departure is still not known, but the agency world became very curious what his next steps would be and it looks like a new agency are in his future plans.