Reuters reports that Lehman lost its bid to recoup $1.8m from William Gourd, who joined the firm in early 2005, according to a ruling this week by a Financial Industry Regulatory Authority arbitration panel.
Lehman Brothers has been pursuing roughly 50 of its former licensed securities professionals to return portions of the bonuses they received when hired. The firm, which filed for bankruptcy in 2008, emerged from the process in March 2012 as an entity that liquidates Lehman assets to repay creditors.
Signing bonuses, often referred to as 'employee forgivable loans' are paid by firms to brokers and other licensed securities professionals up front and structured as loans forgiven over time, typically a seven-to-10-year period.
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