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Defamation Decision Strips Brokers Of Recourse

Law360 (March 30, 2007, 12:00 AM EDT) -- Wall Street can breathe a sigh of relief after New York’s highest court upheld the idea of “absolute” privilege in financial service termination forms, but the decision could have a chilling effect on employees looking for retribution from defamation, lawyers say.

On Thursday, the New York Court of Appeals weighed in on the debate surrounding MetLife Inc.’s dispute with former broker Chaskie Rosenberg in a case that is expected to have far-reaching implications in the world of securities arbitrations.

The appellate court had been asked to...
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