Soros Fund Wants Judge To Toss Warshaw Lawsuit

Soros Fund Management is urging a Connecticut court to throw out claims by Connoisseur CEO Jeff Warshaw, arguing that his alleged deal tied to its acquisition of Audacy is too vague to be enforced.

Jeff Warshaw

In an 11-page filing submitted this week in Stamford Superior Court, the fund and its executive Michael Del Nin push back on Warshaw’s demand for either the CEO role at Audacy or a 5% share of profits, saying no clear agreement was ever finalized. At the heart of the dispute is whether the alleged contract meets Connecticut’s legal standard requiring agreements to be “definite and certain” in their terms.

The fund argues it does not. According to the filing, the supposed obligations on both sides were never clearly defined. Warshaw’s compensation, they say, was framed in vague terms—either unspecified “market rate” pay as CEO or a percentage of profits that was never fully explained. Just as importantly, the fund claims Warshaw himself offered shifting descriptions of his own responsibilities, undercutting the idea that there was any mutual understanding in place.

That lack of clarity is especially significant when it comes to the disputed 5% profit-sharing provision. SFM contends the parties never agreed on how profits would be calculated, when they would be realized, or how they would be distributed—critical details in what it describes as a complex distressed-debt transaction. The fund also dismisses Warshaw’s attempt to rely on industry norms, arguing he failed to show that the defendants were aware of or agreed to any such standards.

Beyond the contract dispute, SFM challenges several of Warshaw’s legal claims, including his attempt to invoke Connecticut’s Unfair Trade Practices Act. The fund maintains the law does not apply because the underlying transaction occurred outside the state, rejecting Warshaw’s argument that alleged misrepresentations reaching into Connecticut are enough. It also disputes claims that Del Nin deliberately concealed communications, saying the complaint shows only routine caution around sensitive information—not any scheme to avoid accountability.

Warshaw, for his part, insists the agreement was real and enforceable, even if not every detail was spelled out. He points to more than 100 calls with Del Nin over the course of a year and an April 2024 meeting where he says he was reassured he would become Audacy’s CEO. His legal team argues the case hinges on factual disputes that should be decided by a jury, not dismissed at an early stage.

The court’s upcoming decision on the motion to strike will determine whether the case moves forward into discovery. If it does, the dispute could head toward a jury trial currently projected for 2027, setting up a closely watched legal battle with broader implications for how media deals—and informal agreements—are structured and enforced.