NY High Court Says Kellogg Partners Must Pay Broker Bonus

Law360, New York (April 2, 2012, 7:07 PM EDT) -- New York's highest court ruled last week that a Wall Street brokerage was required to pay a fired trader a bonus it allegedly used to lure him to the company, even though he signed an at-will employment agreement.

The New York Court of Appeals on May 27 upheld a 2009 jury verdict that Kellogg Partners Institutional Services LLC was obligated to pay head floor broker Daniel Ryan a $175,000 bonus he claimed the firm promised him to induce him to join the then-fledgling brokerage in 2003....
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