HSBC Trader Fired Over E-Mail Sought $2.6 Million, Gets $63,400
- Lazimy sent himself 1,400-page spreadsheet with client info
- Yahoo mail message included banks’ 2010 equities transactions
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A fired HSBC Holdings Plc equity derivatives trader who sued the bank for $2.6 million was awarded just 56,300 euros ($63,400) in a French lawsuit over his dismissal for sending client data to his personal Yahoo! Inc. e-mail address.
The Paris employment tribunal ordered HSBC to pay Ben Lazimy the compensation after he was fired for sending a 1,400-page spreadsheet with all of HSBC’s equities transactions in 2010, a list that included client names and margins. A court official gave the ruling by phone and the court’s full opinion won’t be available for weeks.