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Appellate Court Shields Brokerages From Libel Suits

Law360 (June 14, 2007, 12:00 AM EDT) -- An appellate court on Thursday affirmed the New York Court of Appeals’ ruling that financial services companies’ termination forms are subject to “absolute” privilege, making them immune to defamation claims from former employees.

The U.S. Court of Appeals for the Second Circuit had referred the dispute between MetLife Inc. and former broker Chaskie Rosenberg to New York’s highest court for resolution. In March, that court ruled that U-5 forms, which require financial services industry firms to provide a reason for firing an employee, were protected by...
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