Bear Stearns To Pay Over Alleged Noncompete Breach

Law360, New York (August 24, 2007, 12:00 AM EDT) -- A Financial Industry Regulatory Authority arbitration board on Thursday awarded a former Bear, Stearns & Co. Inc. account executive over $840,000, after finding that the investment company had breached an employment agreement.

After a five-day arbitration hearing this month in Atlanta, the arbitrators ruled that Bear Stearns should repay former senior managing director Gregory A. Fisher commissions and fees Fisher’s clients had paid to the firm after he left the investment company in April 2005. Fisher had argued that Bear Stearns pursued relationships with his clients...
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