Former hedge fund employee sues firm for millions in lost pay
Former hedge fund employee sues firm for millions in lost pay
- Jul 06, 2022
- 505 views
- 0 comments
-
Share
Sullivan says he lost $50 million, as part of a $500 million deferred employee compensation plan that evaporated along with Archegos’s other assets when its highly leveraged options strategy failed. The lawsuit seeks to force Mr. Hwang to cover the losses. Meanwhile, Mr. Hwang was charged with fraud this year after suspicion of misleading lenders and market manipulation.
According to the lawsuit, fund employees were told that the deferred pay plan was guaranteed and that it was invested in highly liquid stocks. But the lawsuit states that both these claims were false. It says employees were forced to contribute at least 25% of their annual bonus to the plan and declare how much they would defer before they knew the details of the bonus.
Source: The New York Times
- 505 views
- 0 comments
Tags In
LoansYou might also like
Best tech jobs in the United States : BLS data
- Sep 06, 2022
- 1399 views
- 0 comments
For several reasons, the IT sector is appealing to job seekers. ...Read more
Salaries for Californian fast food employees might rise to $22 per hour
- Sep 06, 2022
- 856 views
- 0 comments
Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more
Workers leave as job dissatisfaction grows
- Aug 17, 2022
- 1434 views
- 0 comments
Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more
Microsoft offers graduates from African nations job prospects in the US & Canada
- Aug 17, 2022
- 841 views
- 0 comments
New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more
Casper is hiring professional sleepers
- Aug 10, 2022
- 1440 views
- 0 comments
A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more
Category
-
Workplace Harassment
-
Parental Leave
-
Discrimination
-
Workplace Security
-
Firing
-
Ethical Practice
-
Ethnicity
-
Health Savings Accounts
-
Time Worked
-
Benefits
-
Mental Wellness
-
Gender Identity
-
Records & Reports
-
Bonuses & Incentives
-
Vendors & Software
-
Policies & Practices
-
Consultation
-
Job Applications &
-
Social Media
-
Raise
-
Hiring & Firing
-
Communication
-
People Management
-
Contemporary Issues
-
Inclusion, Equity &
-
Employee Conduct
-
Open Enrollment
-
Onboarding
-
Substance Abuse
-
Unemployment Benefits
-
Work Visas
-
Talent Acquisition
-
Wellness Benefits
-
Flexible Spending Account
-
Workplace Stories
-
Employee Engagement
-
Labor Relations
-
Retaliation
-
Paid Leave
-
Networking
-
Dependent Benefits
-
Mental Health Benefits
-
Payroll
-
Career Development
-
Opening
-
Artificial Intelligence
-
Overtime Eligibility &
-
Employment Contracts
-
Campus Placement
-
Employment Branding
Articles
The Great Resignation, as experts call it, is a rather fitting term for a phenomenon where millions ...Read more
Before the advent of the COVID-19 pandemic, about 7 million people in the US alone were working rem ...Read more
More than 50% of the US workforce is working remotely as of now. According to experts, about 25-30% ...Read more
A successful company not only has growing revenues, but it also boasts of a brilliant workforce. Ma ...Read more