UBS owes $903,300 to a former senior strategist who claimed he was fired for refusing to sugarcoat his reports for clients.
Bloomberg News reports that a Manhattan federal court jury on Thursday sided with former top commercial mortgage-backed securities strategist Trevor Murray, who accused the bank of illegally firing him in 2012 for blowing the whistle on attempts by CMBS traders to influence his independent research reports. But the panel rejected Murray’s request for at least $3 million in damages and ordered the bank to pay less than one-third of that.
After the verdict was read, U.S. District Judge Katherine Polk Failla told the two sides to try settle the case before filing further motions, warning of lengthy delays from appeals and a possible retrial.
"See if this jury’s verdict offers you a third-party perspective," Failla said.
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