Ronald M. Green, co-founder of Epstein Becker Green and manager of the Firm’s nationwide Labor and Employment practice, was quoted in an Employment Law360 article about the significance of an unsuccessful wrongful-termination suit brought by the former general counsel for GFI Securities Inc.
Justice Joan A. Madden of the New York State Supreme Court in Manhattan confirmed an arbitration award by a Financial Industry Regulatory Authority (FINRA) panel, which found that Chaim A. Levin, former General Counsel of GFI Securities, had been terminated for “cause” because he refused to cooperate with an internal company investigation into his suspected forgery and fraud.
Justice Madden also confirmed the panel’s order that Levin pay his former company almost $375,000 in attorneys’ fees and costs. Epstein Becker Green represented GFI Securities LLC and affiliated companies in the arbitration against Levin.
“This case is rare for Wall Street, but its outcome is not surprising,” said Green. “The arbitrators’ award and the court’s confirmation show that general counsels, executives and other employees must cooperate in their employer’s internal investigations or face the consequences of refusing to do so.”