February 12, 2019 / 10:42 PM / 6 months ago

Bond trader acquitted of fraud sues Cantor Fitzgerald over legal fees

A former Cantor Fitzgerald bond trader who was acquitted of fraud charges has sued the investment bank, claiming he paid $3.5 million in legal fees out of his own pocket after the bank breached an agreement to indemnify him.

David Demos, in a complaint filed in federal court in Manhattan on Monday said that Cantor never accused him of misconduct and he was not fired for cause, so the bank had no valid reason to refuse to pay his considerable legal fees.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2TLRrcN

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below