Jeff Shell, the former president of Paramount Skydance, has resolved litigation with a gambler who accused him of leaking confidential company information and who sought $150 million for off-the-books crisis PR work.
The gambler, R.J. Cipriani, sued Shell, his wife, Paramount, Larry and David Ellison and others in March, claiming that he was owed millions for communications work performed under an unwritten agreement. Shell countersued, alleging that Cipriani was attempting to exploit their fleeting relationship to shake him down for an undeserved payday.
The two sides each dropped their suits with prejudice on Tuesday. Shell and Paramount are understood not to have paid Cipriani. Paramount and Shell declined to comment. Cipriani’s attorney, Steven Aaronoff, did not respond to a request for comment.
Cipriani also alleged that he had received confidential information from Shell in violation of securities laws. When initially confronted with that accusation in February, Shell disclosed it to Paramount, which launched an internal investigation.
The internal probe concluded that Shell had not violated any securities rules, the company said in April.
