Law Office of Ethan A. Brecher, LLC

646-571-2440
600 Third Avenue, 2nd Floor, New York, NY 10016
ethan@ethanbrecherlaw.com
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Mar01

FINRA Panel Awards $4+ Million on Wrongful Termination Claim

Posted on Mar 1 by

On February 28, 2018, a FINRA arbitration Panel in Miami, Florida awarded $4+ million to a client of Law Office of Ethan A. Brecher, LLC on claims of wrongful termination and failure to pay deferred compensation and commissions. The Panel also ordered that the client, a former broker for Citi in Miami, was entitled to have the language that Citi used on his Form U-5 as the reason for his termination expunged and replaced with a statement that he was “Terminated without cause.” Final Award 16-01001 Christian Silvalima Gherardi vs. Citigroup Global. A well-known FINRA arbitration blogger had this to say about the decision: “When a former Citigroup Global Markets employee hits the firm with a FINRA Arbitration demand for over $16.5 million in damages, we know that there was likely a lot of bad blood engendered by what was alleged to be a wrongful termination. By the time the arbitration ended, there was quite a bit of blood pouring out of Citigroup as the firm took quite a beating before the final bell rang. ”  ...

Feb06

Federal Court Allows Claim for Payment of Options to Proceed Against Large Defense Contractor

Posted on Feb 6 by

On February 1, 2018, the United State District Court for the Eastern District of New York held that Data Device Corporation (DDC) (a defense contractor on Long Island) could not avoid a claim for breach of contract (and related claims) brought by Law Office of Ethan A. Brecher, LLC’s client Charles Frazer. Mr. Frazer asserted in his amended complaint that DDC breached its promise to pay him up to 200,000 stock options, worth at least $800,000.  DDC made a motion to dismiss, and the Court denied the motion as to the contract-based claims and directed the parties to proceed to discovery.  Frazer v. Data Device Corporation, 16-cv-06510-JFB-AYS....

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