Wednesday, 8 June 2016

Sacked trader wins compensation of 455000 euros

In 2008 Jerome Kerviel, a stock market trader with French bank Societe Generale was found to have caused losses of 4.9 billion euros, exceeding his fixed limits. He was convicted, but has always maintained that the bank was aware of his activities and given his track record were sure he would have turned things round. The bank obviously denies connivance but the employment tribunal known as "Les Prud'hommes" ruled that he was unlawfully sacked and has ordered that the bank pay him 455000 euros. Kerviel's lawyer said that his client is "content" with the verdict.
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