Current TV: Olbermann has specialized in pounding the table

Current TV slammed political commentator Keith Olbermann on Thursday, after the infamously volatile pundit filed a lawsuit against the network.

"Current terminated Keith Olbermann last Thursday for serial, material breaches of his contract, including the failure to show up at work, sabotaging the network and attacking Current and its executives," the network said.

Olbermann left MSNBC just over a year ago to become the face of Current TV, a network owned by former Vice President Al Gore and businessman Joel Hyatt. Olbermann had signed a five-year, $50 million contract with the network.

He filed a lawsuit in the Los Angeles County Superior Court against Current, alleging he was wrongfully terminated in late March. The lawsuit claims Current still owes him between $50 million and $70 million in compensation.

Current, however, suggested that Olbermann was merely putting on a show.

"As the old adage says: 'When the law is on your side, you argue the law. When the facts are on your side, you argue the facts. When neither the law nor the facts are on your side, you pound the table.' We will be happy to engage on the law and the facts in the appropriate forum," the company said in response to the lawsuit.

"It is well established that over his professional career Mr. Olbermann has specialized in pounding the table. However, Mr. Olbermann, by filing his false and malicious lawsuit, has now put this matter into a legal process where there will be an objective review of the facts."