Facts

Amit Gupta filed an arbitration claim against Morgan Stanley & Co. Inc. and Morgan Stanley Capital Group Inc. in relation to his former employment with Morgan Stanley.

CLAIMANT'S CONTENTIONS:
Gupta alleged breach of contract and unjust enrichment.

RESPONDENT'S CONTENTIONS:
Respondent denied the allegations and asserted affirmative defenses.

Damages

At the hearing, Gupta asked for compensatory damages for a deferred cash award in the amount of $1,844,331, a stock units award of $4,697,287, value stock options of $2,443,936, compensation for a bonus between $2.8 million and $3.4 million, and lost earnings between $10.5 million and $14.24 million. He also sought 9 percent statutory interest on the deferred cash award and stock units award amounting to $1,469,911.

Result

The arbitration panel awarded Gupta $8,011,529 in compensatory damages in relation to his request for damages on the deferred cash award and stock units award, as well as statutory interest. Arbitrator John S. Martin dissented from the majority's decision.

Other Information

ARBITRATORS: John W. Bissell, John S. Martin and Donald A. Robinson