"Current was ... founded on the values of respect, openness, collegiality and loyalty to our viewers. Unfortunately these values are no longer reflected in our relationship with Keith Olbermann, and we have ended it," Gore and Hyatt said in an open letter to viewers on their website, according to CNN.
Olberman said via Twitter Friday that he had tried to convince Gore and Hyatt to work out the "issues" they were having internally and denies that the statements on the Current TV website are true, according to CNN.
"I will be filing against them presently," Olbermann said, before later posting that the "truth of the ethics" of Gore and Hyatt "will come out," in the legal proceedings, according to CNN.
In addition to denying the accusations of Gore and Hyatt, Olbermann also attacked Hyatt personally, according to the Huffington Post.
"To understand Mr. Hyatt's 'values of respect, openness, collegiality and loyalty,' I encourage you to read of a previous occasion Mr. Hyatt found himself in court for having unjustly fired an employee," said Olberman via Twitter, according to the Huffington Post.
Olberman is referring to a 1990 case in which Hyatt's law firm illegally fired an employee after finding out that employee had AIDS, according to the Huffington Post.