Bank of America Executive Fights Back After Firing
April 27 2018 - 6:02PM
Dow Jones News
By Rob Copeland and Rachel Louise Ensign
The fired Bank of America executive at the center of a
sexual-misconduct probe filed a defamation claim against the bank,
according to his attorney.
The claim from Omeed Malik, until January a top figure in the
bank's hedge-fund-focused prime brokerage division, asks the
Financial Industry Regulatory Authority for a more than $100
million award, the attorney said. Finra arbitrates complaints about
the business activities of a brokerage firm.
Mr. Malik's claim isn't public.
John Singer, the attorney for Mr. Malik, said the bank used
"false and defamatory language" in public documents about the
banker's termination.
In addition, the bank "threatened the employment and livelihood
of other employees they interviewed if they did not admit to
inappropriate conduct on Mr. Malik's part, which these employees
courageously refused to do," Mr. Singer said.
A Bank of America spokesman said: "The bank stands by its
decision to terminate Mr. Malik. His claims are without merit and
we will defend ourselves in this matter."
The Wall Street Journal earlier reported that Mr. Malik was
fired in the wake of complaints from female employees about
unwanted advances. Mr. Malik, through an attorney, denied engaging
in any sexual harassment.
Write to Rob Copeland at rob.copeland@wsj.com and Rachel Louise
Ensign at rachel.ensign@wsj.com
(END) Dow Jones Newswires
April 27, 2018 17:47 ET (21:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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