Ousted iPayment CEO back as adviser, gets $11 million settlement

Carl Grimstad, the ousted CEO of iPayments Inc., received an $11 million settlement after a year-long lawsuit against the New York-based company he founded. It's been almost a year to the day when Grimstad first filed a lawsuit for wrongful termination. Since then, salacious details of his tenure as CEO emerged. Last September, iPayment's top brass ousted founder Grimstad as CEO and replaced him with former co-president O.B. Rawls IV. His termination from iPayment was effective Nov....