The Colin Veitch lawsuit against Virgin Cruises has come to a settlement, the parties announced.
The lawsuit was officially closed by Chief Judge K. Michael Moore on Monday Jan. 25, after spanning about 10 months.
The filings from Veitch claimed Richard Brandon and Virgin stole his ideas and business plan to enter the cruise industry.
The lawsuit was filed in federal court in Miami in March (2015) on behalf of Veitch and his VSM Development company, seeking more than $300 million in damages and asking a judge to stop the London-based Virgin from going forward with its recently announced cruise line.
Veitch left Norwegian in 2008 after eight years as CEO.
The Virgin Group, Virgin Cruises (“Virgin”) and Mr. Colin Veitch are pleased to announce they have amicably resolved the action filed in March 2015.
Mr. Veitch states that he has always been a believer in the power of the Virgin Brand to shake up the cruise industry and looks forward to seeing the team deliver a unique product to attract new consumers and expand the cruise market. Virgin and Virgin Cruises thank Mr. Veitch for his contribution during the early phases of the project, given his long record of innovation and industry insight. They wish him well for his future endeavors.