MIAMI (AP) — The former chief executive officer of Norwegian Cruise Line is suing British billionaire Richard Branson and his Virgin Group conglomerate, claiming that Virgin essentially stole his ideas and business plans to enter the luxury cruise industry.
The lawsuit was filed Wednesday in Miami federal court on behalf of Colin Veitch and his VSM Development company. It seeks more than $300 million in damages and asks a judge to stop London-based Virgin from going forward with its recently announced Miami-based cruise line.
The lawsuit contends Virgin reneged on a May 2011 agreement with Veitch over how estimated profits would be split. Veitch would get nothing if the 4,200-passenger "ultra" ships were not profitable but could earn $315 million if projections were met.
Virgin did not immediately respond to emails seeking comment.