Registered Person Sues Investacorp and Ladenburg in Multi-Million Dollar FINRA Arbitration
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In a FINRA Arbitration Statement of Claim filed in May 2009, Scott Sherwood asserted causes of action for
breach of contract as to Respondent Investacorp ("Count 1"); and, tortuous interference as to Respondent Ladenburg ("Count 2").The causes of action relate to Claimant Sherwood's former employment with Respondent Investacorp, as well as Respondent Ladenburg's alleged interference with Claimant's and Respondent Investacorp's employment agreement. Respondents generally denied the allegations and asserted various affirmative defenses. In the Matter of the Arbitration Between Scott Sherwood, Claimant, vs. Florida Investacorp, Inc. and Ladenburg Thalmann Financial Services, Inc., Respondents (FINRA Arbitration 09-02722, November 11, 2010).
Claimant Sherwood initially sought damages of $5 million against each of Investacorp and Ladenburg, plus a declaration from the FINRA Arbitration Panel that his non-compete and non-solicitation clauses in his Investacorp employment contract were void and/or unenforceable.
LEARN HOW THIS CASE WAS DECIDED AT:
http://www.brokeandbroker.com/index.php?a=blog&id=657
as to Respondent Ladenburg relating to Count 2, compensatory and punitive damages in the amount of $5,000,000.00; and, as to both Respondents relating to Counts 1 and 2, attorneys' fees, interest and costs.
The reason for termination "Other" shall remain the same.
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