Lawsuits

jefferiesAnd here’s what he’s doing about it! Read more »

deutsche-bank-logo-on-a-cupcakeFederal prosecutors in Manhattan on Monday sued Deutsche Bank, claiming that it owes the United States government about $190 million in unpaid taxes, penalties and interest. Prosecutors contend the tax liability stems from a transaction that Deutsche Bank undertook 14 years ago. The bank had acquired a company that held three million shares of Bristol-Myers Squibb. The shares appreciated in value and, federal prosecutors say, the bank came up with a “scheme to evade” paying tens of millions of dollars in capital gains taxes on the shares when they were eventually sold. But Deutsche Bank, which has large operations in the United States, contends that it reached a settlement with the I.R.S. over the same tax dispute in 2009. “It is not clear to us why we are being pursued again for the same taxes,” the bank said in a statement. It said it intended to “vigorously” fight the lawsuit. [Dealbook]

imgresBehold, what clearly deserves a place in the Top 10 of excuses offered re: misunderstandings re: sexual harassment on Wall Street:


One female employee at CTPartners alleged Jeremy Robertson, who works in the firm’s hedge fund practice, called himself “daddy” and said he wanted to spank her. When she complained to Vice Chairman Burke St. John, he dismissed the matter due to a “language barrier,” even though Robertson’s first language is English, according to her statement in the EEOC complaint.

Also, penis shadows: Read more »

deebsalebIn 2010, Deeb Salem was employed as a mortgage trader at Goldman Sachs, despite numerous attempts by rivals to poach him and his self-described Michael Jordan-esque skills. He told his mother, who was living with him at the time, that he expected to be paid a $13 million bonus. So when it turned out he only received $8.25 million, you can imagine how incensed Deeb must have been. Not only had GS management made him look like a liar, it failed to keep up its end of the unspoken agreement re: not disappointing the mothers of Goldman Sachs employees. Refusing to let Goldman get away with such an unspeakable act, Salem sued the bank, demanding it cough up the extra $5 million he believed he was owed. Sadly, last September, a judge dealt Salem a bit of a setback in his quest to recover the money but if anyone thought that was going to stop him from ultimately making good on his promise to the woman who gave him life, he/she thought wrong! Read more »

  • 06 Nov 2014 at 1:26 PM

Sage Kelly’s Boss Has Been There

Ben LorelloIf Kelly needs a shoulder to cry on– and he probably does–, Ben Lorello can empathize. Read more »

hank and snowflakeIt’s looking like Hank Greenberg (‘s lawyer) might actually convince people he was wronged. Read more »

ray-dalioBridgewater Associates sued Howard Wang and Wenquan “Robert” Wu in federal court in Manhattan on Tuesday, saying they tried to publicize their newly-formed hedge fund, Convoy Investments, by lying about their former roles at Bridgewater. Bridgewater claims that Wang and Wu tried to pass themselves off as “former key figures responsible for core aspects of Bridgewater’s business,” but “they were nothing of the sort.” Bridgewater is asking a federal judge to order Wang and Wu stop misrepresenting their role at Bridgewater and pay the hedge fund firm damages…Bridgewater says that Wang joined Bridgewater in 2008 as an entry-level junior analyst in the client services department that is responsible for managing the hedge fund’s relationships with clients. Wang left in 2012 and Bridgewater says he told the hedge fund “that he intended to pursue ballroom dancing ‘full time as a competitor.’” Wu joined Bridgewater’s internal finance department in 2007 as a software developer, coding software that calculated Bridgewater’s fees. Wu was later transferred to the core tech department at the hedge fund and dealt with discrete coding projects until he left the hedge fund firm in 2010, telling Bridgewater that he was unemployed and traveling, the hedge fund claims. [Forbes]

hsbcEarlier this week, we learned that two HSBC employees had sued the bank, claiming that they had been demoted and had their bonuses cut by more than 60 percent after reporting a superior’s conduct– which allegedly included strongly encouraging an underling to have sex with various male employees, attempting to pull her top down in public, and so on and so forth. Then on Tuesday, the firm scored a rare trifecta when a third employee filed suit against it, claiming that he’d been fired for complaining about a colleague touching him in places no one wants to be touched by their colleagues, and also requesting favors of the sexual variety. Read more »