ITG Agrees to Pay $5.25 Million to Ex-CEO Gasser in Settlement
- Gasser claimed company wrongfully terminated, defamed him
- Brokerage removed Gasser in August amid dark pool settlement
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Investment Technology Group Inc. agreed to pay $5.25 million to Robert Gasser, its former chief executive officer, to settle claims that the company wrongfully terminated his contract and defamed him.
The settlement, detailed in a filing Thursday, comes almost a year after Gasser was ousted amid a regulatory probe of ITG’s dark pool. Gasser sought $13 million from ITG in October, in a "demand for arbitration" claiming the company wrongfully ended his contract and damaged his reputation, according to regulatory filings.