Cofounder Sues ADP and Former Partners After Firing Over Return-to-Office Rule and Share-Sale Clause

William Nieporte filed a federal lawsuit in May against human resources firm ADP Totalsource seeking at least $30 million, Fortune reported. The suit stems from his 2022 firing by Bramshill Investments, an $8 billion asset manager he co-founded. Nieporte, Stephen Selver and Art DeGaetano signed an email directing staff to work five days a week at offices in New York City, Naples, Florida, or Newport Beach, California.

Nieporte lived in San Ramon, California, at the time. ” Nieporte is also in arbitration with Bramshill, its parent Ironmen, Selver and DeGaetano. He alleges the termination was intended to usurp his 12 percent stake.

Ironmen requires shareholders fired for cause to sell their holdings. Selver holds 40 percent and DeGaetano holds 48 percent. An ADP spokesperson said the company would defend itself and had complied with applicable laws.

Bramshill stated Nieporte’s claims are fabricated, he is not owed money, and his termination resulted from dereliction of duty. Nieporte’s attorney Matthew Press said the return-to-office order applied to employees and did not validly cover Nieporte as an owner and manager. Nieporte claimed Selver and DeGaetano approved his 2017 move to San Ramon yet made a lowball offer in 2021 to buy his stake.

The policy carried a July 5, 2022 deadline. ” Nieporte now lives in Nevada and works remotely for a startup.