Ex-Barclays FX Trader Wins Employment Lawsuit
- Fotheringhame wins unfair dismissal suit over firing
- New York banking regulator had told bank to eliminate his post
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A Barclays Plc foreign exchange trader, fired after an order from a New York regulator, won his unfair dismissal lawsuit against the bank as a judge said she was “troubled” by contradictions in the testimony of his supervisors.
David Fotheringhame sued after losing his 1.2 million-pound ($1.7-million) a year job when the Department of Financial Services told Barclays in 2015 to “take all steps necessary” to eliminate his post. He was about 20 percent responsible for his dismissal, Judge Jill Brown found -- meaning his ultimate compensation from the court will be cut by that amount.