FINRA Awards Ex-Citi Advisers $23M In Commission Pay Case

Law360, New York (January 23, 2012, 6:10 PM EST) -- A Financial Industry Regulatory Authority arbitration panel said Friday that Citigroup Inc. owes two former financial advisers $23.4 million for failing to pay them commissions.

Plaintiffs James Minchello, Robert Minchello and Martha Sullivan alleged Citigroup and Citigroup Global Markets Inc. refused to pay them commissions they were owed while they worked for the company, their attorney Peter Pendergast of Prince Lobel Glovsky & Tye LLP said. He said the Minchellos and Sullivan, their assistant, were paid with a percentage of revenue derived from their clients' deals....
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