{"id":5655,"date":"2014-06-24T00:00:00","date_gmt":"2014-06-24T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/06\/finra_arbitration_panel_orders_1"},"modified":"2022-05-06T10:59:15","modified_gmt":"2022-05-06T15:59:15","slug":"finra-arbitration-panel-orders-1-2","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-arbitration-panel-orders-1-2\/","title":{"rendered":"FINRA Arbitration Panel Orders Stifel Nicolaus to Pay $2.7M to Ex-Head Trader"},"content":{"rendered":"\n

A Financial Industry Arbitration Panel says that Stifel Financial Corp. (SF)<\/a>, the brokerage unit of Stifel Nicolaus, must pay $2.7 million to, Sean Horrigan. Stifel\u2019s ex-head trader claims that the brokerage firm defamed him and withheld his bonus without just cause. Now, the panel is holding the broker-dealer liable.<\/p>\n

Horrigan was fired from Stifel in 2012. According to his lawyer, his termination happened several weeks after he overheard a phone call in which a manager insulted his wife to a salesperson. Horrigan\u2019s wife was also employed at Stifel at the time. After the incident, he reacted emotionally. It was after trading hours. The firm then demoted him before letting him go just weeks prior to giving him his bonus for 2011.<\/p>\n

Stifel contended that Horrigan was not entitled to get that money because on the day that the bonuses were issued he no longer worked for the firm. His attorney, however, says that unless an industry professional signs a contract mandating that an employee has to be employed on bonus payout day, he\/she is still entitled to that money.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A Financial Industry Arbitration Panel says that Stifel Financial Corp. (SF), the brokerage unit of Stifel Nicolaus, must pay $2.7 million to, Sean Horrigan. Stifel\u2019s ex-head trader claims that the brokerage firm defamed him and withheld his bonus without just cause. Now, the panel is holding the broker-dealer liable. Horrigan was fired from Stifel in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3798,3953,3752,3739,3998],"tags":[],"class_list":["post-5655","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-arbitration-rulings","category-financial-firms","category-finra","category-stifel-nicolaus-company"],"yoast_head":"\nFINRA Arbitration Panel Orders Stifel Nicolaus to Pay $2.7M to Ex-Head Trader — Investor Lawyers Blog — June 24, 2014<\/title>\n<meta name=\"description\" content=\"A Financial Industry Arbitration Panel says that Stifel Financial Corp. 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