Alex David Vitale v. Deutsche Bank Securities Inc., Deutsche Bank A.G.
Published: Nov. 22, 2014 | Result Date: Oct. 30, 2014 | Filing Date: Jan. 1, 1900 |Case number: 13-00509 Arbitration – $1,375,200
Facts
Alex Vitale filed a complaint against Deutsche Bank Securities Inc. and Deutsche Bank A.G., in connection with his employment with the company.
Contentions
COMPLAINANT'S CONTENTIONS:
Complainant asserted claims for failure to pay performance bonus and violation of the California Labor Code.
RESPONDENTS' CONTENTIONS:
Respondent denied complainant's allegations and asserted various affirmative defenses.
Damages
Vitale sought no less than $100,000 for his unpaid salary base plus interest and $2.2 million in unpaid earned bonus, $257,506 in severance compensation. He also requested an accounting, costs, attorney fees, and other relief. At the close of hearing, Vitale requested $2.7 million as a bonus and $257,507 in severance pay plus interest and attorney fees.
Result
The FINRA Panel found Deutsche Bank liable to Vitale for $1.3 million in compensatory damages plus interest since February 2013, $75,000 for legal fees, and $200 as reimbursement of FINRA filing fee. However the Panel denied Vitale's claim for severance pay.
Other Information
ARBITRATORS: Douglas W. Oldfield, Pamela S. Mann, Louis Anthony Napoli
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