AXA Ruling In Retaliation Suit Was Premature: 2nd Circ.

Law360, New York (June 13, 2011, 3:43 PM EDT) -- The Second Circuit ruled Monday that a New York federal judge prematurely ordered a fired stockbroker to repay $539,000 to insurer AXA Network LLC, which he is suing for breach of contract and retaliation for allegedly blowing the whistle on a co-worker's Ponzi scheme involvement.

Steven S. Novick, who is suing AXA for $10 million in damages, argued U.S. District Judge Alvin K. Hellerstein abused his discretion when he granted partial summary judgment to AXA in August 2009 on its counterclaim for repayment of loans....
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