Benjamin Solomon, Deutsche Bank’s former global head of securitized-product trading, accused the company in a lawsuit of firing him on frivolous and unjust grounds amid an industry focus on supervisors’ responsibilities.
Bloomberg News reports that Solomon entered into an employment agreement with Deutsche Bank Securities in March 2011 and was terminated for cause in August, according to the lawsuit filed Friday in New York state court.
Solomon, who is seeking more than $10m in compensation, said he never engaged in any conduct that would have justified his firing under that agreement, according to the complaint.
'The proof will show that it was a frivolous and unjustified firing that had nothing to do with his conduct and had everything to do with Deutsche Bank seeking to deflect attention away from the fact that senior executives alleged to be involved in improper conduct have been allowed to leave the bank with no consequences', Solomon’s lawyer,Judd Burstein, said Tuesday in a phone interview.
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