Trading Cos. Settle Suit Over Singapore Employees

Law360, New York (November 27, 2006, 12:00 AM EST) -- Two securities trading firms have reached a settlement in a case sparked by a massive defection of employees from the Singapore branch of one firm to the other.

BCG International and Collins Stewart Tullett PLC’s interdealer broker arm, known as Tullett Prebon, have not disclosed the terms of the settlement, but it is rumored to be far less than the $40 million sought by Collins Stewart.

Both brokerages expressed satisfaction with the settlement, which brings an end to a drawn out battle over alleged employee poaching....
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