Tullett Prebon receives $100m over alleged poaching spat

Gavel Jason Morrison

British interdealer broker Tullett Prebon said on Tuesday it had been paid $100m by U.S. rival BGC Partners to settle a court case in the United States over the alleged poaching of its staff by BGC.

Reuters reports that Tullett's action in the New Jersey Superior Court made claims for racketeering, unfair competition, misappropriation of confidential information and trade secrets and tortious interference, the company said.

The settlement is in addition to the $33.3m in damages BGC agreed to pay to Tullett in July last year following arbitration by the U.S. Financial Industry Regulatory Authority (FINRA).

To access the complete Reuters article hit the link below:

Tullett Prebon says gets $100 million payment from BGC in U.S. settlement

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