Law360, New York (August 31, 2009, 2:41 PM ET) -- Electronic broker BGC Partners Inc. faces a $500 million claim brought by a unit of rival firm Tullett Prebon PLC over the defection of 52 employees to BGC, according to a regulatory filing.
In a filing with the U.S. Securities and Exchange Commission Friday, BGC revealed that interdealer brokerage firm Tullett Liberty Securities LLC had filed a Financial Industry Regulatory Authority dispute resolution claim against BGC Financial LP, an affiliate of BGC Partners, related to the decision by 52 Tullett employees to resign from Tullett and...
BGC Hit With $500M Claim Over Tullett Defections
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