David DePoyster
David DePoyster, the North Little Rock investor and developer of medical companies and medical technologies, didn’t brush off his recent termination from a $220,000 a year job at an Atlanta firm.
He turned around and sued.
DePoyster is seeking nearly $550,000 in damages from Brookhaven Medical Inc. for a number of causes, including breach of contract.
DePoyster began working for the medical device development and manufacturing firm on Jan. 1. He was supposed to “make himself reasonably available to [Brookhaven] for general advice and consultation with respect to the business of the Company,” according to his lawsuit. He was going to serve as a managing director-business development for five years.
DePoyster has more than 20 years of experience in medical company sales and development, including ownership of MedSource, a medical development company with a portfolio of ventures in various medical specialties.
On Sept. 1, DePoyster was told he was terminated for cause, but no cause was given.
DePoyster said that, under his contract with Brookhaven, he is owed the equivalent of two years of salary if Brookhaven fired him without cause.
“At no point has Defendant provided [DePoyster] a reason for termination … that constitutes ‘Cause,’ as it is defined in the Agreement,” said the lawsuit filed by DePoyster’s attorney Daniel Herrington at the law firm of Friday Eldredge & Clark LLP of Little Rock.
And DePoyster didn’t do anything that would constitute cause, the lawsuit said. He is seeking the $440,000 for the two years of salary and other damages.
Brookhaven filed its response in U.S. District Court in Little Rock and denied the allegation that DePoyster is entitled to the $440,000 or any other money. The company, represented by the Rose Law Firm of Little Rock, has asked that the case be thrown out.
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