Jefferies has been ordered by a Hong Kong judge to pay its former Asia equity trading head Grant Williams about $1.86 million for firing him over a newsletter which referred to a Hitler parody video.
Bloomberg News reports that the award includes pay for a six-month notice period and damages covering his loss of salary and bonuses from June 2011 until July 2013, according to a ruling by Deputy High Court Judge Conrad Seagroatt Monday.
Seagroatt ruled last month that Williams shouldn’t have been blamed for the December 7, 2010 newsletter that included a link to a YouTube video clip depicting Adolf Hitler, with subtitles that mocked JPMorgan Chase CEO Jamie Dimon. His firing the next day for unacceptable conduct was 'hypersensitive' and 'irrational', Seagroatt said last month.
Williams, 46, had sent it for vetting and its distribution was a result of human error or a defect in the approval system established by Jefferies or a combination of both, according to the June ruling.
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