Wells Fargo To Pay $7M In Ex-Worker’s Defamation Suit

Law360, New York (July 8, 2011, 3:01 PM EDT) -- An attorney for a former Wachovia Securities LLC employee on Friday lauded an arbitration decision by financial industry regulators to award his client more than $6 million in damages, plus attorneys' fees, for wrongful termination and defamation.

An arbitration panel for the Financial Industry Regulatory Authority on Wednesday ordered Wachovia Securities and successor Wells Fargo Advisors LLC to pay Greg Kipple, a financial adviser fired by Wachovia in 2009, $4.3 million in compensatory damages, $1 million in damages for defamation and $1 million in punitive damages...
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