Olbermann is suing for breach of contract, sabotage and disparagement after he claims he was fired one year into his five-year, $50 million contract with Current.
"This action is necessary as Current has repeatedly and willfully breached its written agreement with Olbermann, often continuing to do so after receiving specific notices to cure such breaches," states the complaint, as obtained by THR.
In a letter sent to Olbermann's reps on March 29, Current claimed that the anchor missed 19 of 41 workdays in January and February and that he refused to promote the network's other shows. In turn, Olbermann alleged that he was not given adequate facilities (he says the lights went out several times in his studio).
So far, Current has paid Olbermann the first installment of his $10 million a year deal, according to THR.
"I screwed up really big on this. Let's just start there," he said on the Late Show with David Letterman, after being asked whether Current TV executives knew what they were doing. "I thought we could do this. It's my fault that it didn't succeed in the sense that I didn't think the whole thing through."