Manhattan Federal Jury Awards Ex-UBS Analyst Nearly $1M in a Whistleblower Lawsuit
From the Desk of Jim Eccleston at Eccleston Law LLC:
A New York City federal jury sided with former UBS AG mortgage analyst, Trevor Murray, in his whistleblower lawsuit against his former employer. According to his complaint, Mr. Murray was terminated in 2012 from his position at UBS for refusing to skew his mortgage-backed securities research and, as a result, to boost UBS’ revenue figures, in order to impress investors. In Mr. Murray’s 2014 complaint, he alleged violations of the anti-retaliation provision of the Dodd-Frank Act and retaliation claims under the Sarbanes-Oxley Act.
Moreover, UBS subsequently filed a motion for summary judgment and argued that Mr. Murray was terminated due to the company’s efforts to downsize after the global financial downturn. However, the judge ultimately denied UBS’s Motion for Summary Judgment, stating that there was sufficient evidence to support Mr. Murray’s argument that he engaged in a protected activity and that the activity was a contributing factor to his termination.
At the conclusion of the trial, the jury ordered the UBS to pay Mr. Murray $903,300 in damages for emotion distress and back pay.
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