BANGALORE (Reuters) - Theme park operator Six Flags Entertainment Corp <SIX.N> said an arbitrator ruled in favor of certain claims made by its former Chief Financial Officer Jeffrey Speed.
The arbitrator has directed the company to pay $23.7 million, plus interest and attorney's fees, the company said.
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Six Flags replaced Speed as the CFO in September last year, and later terminated his employment, without cause, in October, the company said in a regulatory filing.
In September, Speed filed with the American Arbitration Association a statement of claim and demand for arbitration against Six Flags, asserting various claims relating to and arising out of his employment agreement.
Speed also filed a claim with the Department of Labor relating to his discharge which the company denies and plans to file a response shortly.
The company, which will take a one-time restructuring charge related to the arbitration, said it disagrees with the arbitrator's award and is currently evaluating its options, including an appeal.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Sriraj Kalluvila)