Fired Broker's Case Against AXA Survives

Law360, New York (November 7, 2011, 4:45 PM EST) -- A New York federal judge on Monday refused to throw out a lawsuit that accuses insurer AXA Network LLC and a sister broker-dealer of breach of contract for firing a stockbroker who allegedly exposed a co-worker's involvement in a Ponzi scheme.

Broker and insurance salesman Steven S. Novick claims AXA violated its own procedures when it terminated him after he complained a fellow stockbroker sold interest in an investment fund operated by convicted Long Island, N.Y., fraudster Edward T. Stein. AXA maintains it terminated Novick's contract...
To view the full article, register now.



Case Information

Case Title

Novick v. AXA Network, LLC

Case Number



New York Southern

Nature of Suit

Contract: Other


Alvin K. Hellerstein

Date Filed

August 31, 2007

Law Firms


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.