- Daniel Stalker claims he was fired for whistle-blowing
- FX trader joins at least seven others suing their former banks
Bank of America Corp.’s Merrill Lynch was the latest bank to be dragged into a rash of foreign-exchange-related unfair dismissal lawsuits after a former trader sued the lender.
Daniel Stalker, a director on the foreign exchange trading desk in London, filed a case for unfair dismissal, claiming he was fired for whistle-blowing. A closed-door mediation hearing took place at central London employment tribunal Friday.
Stalker joins at least seven other foreign exchange traders to sue their former employers following widespread dismissals during the benchmark-rigging scandals. Cases involving Citigroup Inc., HSBC Holdings Plc, Lloyds Banking Group Plc and Royal Bank of Scotland Plc are underway or pending.
Both Bank of America, and DLG Legal Services, the law firm representing Stalker, declined to comment.
Damages in employment cases are normally capped at about 78,300 pounds ($121,000), unless there is a finding of discrimination or the claimant wins status as a whistle-blower.