Bloomberg News

Cantor Fitzgerald Settles Lawsuit Against Reorient Executives

March 07, 2013

Cantor Fitzgerald LP and four managing directors who left to join a China-backed investment bank Reorient Group Ltd. (376) agreed to settle their lawsuit, according to a Hong Kong stock exchange statement.

Reorient said it has been informed by Jason Boyer, Bradford Ainslie, Brett McGonegal and Uwe Parpart that Cantor won’t proceed with its planned appeal of a Hong Kong judgment that dismissed its claims.

The Europe and Hong Kong units of Cantor had sought HK$8.7 million ($1.1 million) in damages from the four executives, accusing them of breaching their employment contracts and causing a 29 percent drop in its average monthly revenue in the city.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus