ORX News digest of the month – July 2018
- 7 August 2018
Every month the ORX News team publishes a featured digest from the ORX News Service. It's a detailed look at one of the losses reported in the media that month, and is handpicked by the team as one of the most interesting stories.
July's digest summary:
Bank of America has reached an eight-figure settlement with one of its former prime brokerage executives, Omeed Malik, who claimed that the bank made false allegations of sexual harassment against him to justify dismissing him.
According to Malik, Bank of America leaked the accusations because he had blown the whistle on his boss for not having the correct regulatory license to work in the US. Malik had filed a case with FINRA in April 2018 seeking $100m and intended to file a discrimination lawsuit as well.