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Fired D.E. Shaw Fund Manager Michalow Wins $52 Million From Firm

  • It’s likely among the biggest arbitration awards of its kind
  • The fund had accused him of ‘offensive conduct’ in 2018
David Shaw in 2006.
David Shaw in 2006.Photographer: Kimberly White/Bloomberg
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Daniel Michalow, the veteran fund manager fired by D.E. Shaw & Co. in 2018, won $52.1 million Wednesday from the firm, likely one of the largest recent awards of its kind. 

That’s less than the $600 million he was seeking for defamation in arbitration run by Wall Street’s self-regulator, the Financial Industry Regulatory Authority, according to a document on its website. Besides D.E. Shaw, the case was against four top executives, who declined to comment through a company spokesperson.