Jefferies Group must pay $1.86 million to trader it fired over a Hitler parody

Trader accused of sending company newsletter including an offensive video

A Hong Kong judge has ordered American investment bank Jefferies Group to fork over a giant chunk of money to one of its former traders.
 
In December 2010, a company newsletter containing a link to an offensive Hitler parody video was accidentally distributed and Jefferies blamed trader Grant Williams for the mistake. The day after the newsletter went out, Jefferies fired Williams. Williams, who claimed he wasn’t to blame for the newsletter distribution mistake, sued Jefferies.
 
Last month, Deputy High Court Judge Conrad Seagroatt in Hong Kong sided with Williams, calling Jefferies’ firing of the trader “hypersensitive” and “irrational.” He awarded the former trader $1.86 million, including salary and bonuses he should have received between June 2011 and July 2013.
 
Read more about this story on Bloomberg.
 
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Cathleen Flahardy

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