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
- 435 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
- 435 views
- 0 comments
Tags In
LoansYou might also like
Best tech jobs in the United States : BLS data
- Sep 06, 2022
- 1070 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
- 753 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
- 1112 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
- 732 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
- 1173 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
-
Employment Testing
-
Contracts & RFPs
-
Communicable Diseases
-
Hiring & Firing
-
Business Acumen
-
Mentoring & Coaching
-
Privacy
-
Retirement Benefits
-
Labor Relations
-
Records & Reports
-
Analytical Aptitude
-
Bonuses & Incentives
-
Religious Accomodations
-
Talent Acquisition
-
Age
-
Health Savings Accounts
-
Workplace Harassment
-
Vendors & Software
-
Inclusion, Equity &
-
Disability Accomodations
-
Overtime Pay
-
Mental Health Benefits
-
Benefits
-
Affirmative Action
-
Benefits Reporting & Disclosure
-
Ethical Practice
-
Teamwork
-
Drug & Alcohol Testing
-
Workplace Culture
-
Substance Abuse
-
Downsizing
-
Employment Offers
-
Time Worked
-
Firing
-
Raise
-
Mental Wellness
-
Remote & Hybrid Work
-
Ethnicity
-
Change Management
-
Gender Identity
-
Religion & Spirituality
-
Leadership Development
-
Employee Conduct
-
Job Descriptions
-
Risk Management
-
Employee Data Privacy
-
HR Careers
-
Wellness Benefits
-
Workforce Planning
-
Workplace Stories
Articles
While employment is steadily rising in all sectors, the fear of COVID-19 still reigns supreme. As t ...Read more
One of the key responsibilities of HR teams is to ensure a diverse workplace and manage it effectiv ...Read more
The current unemployment rate in the US stands at 6.7%, which is almost double the rate in February ...Read more
Companies have resorted to digital hiring processes to ensure health, safety, and convenience to jo ...Read more