A former UBS bond strategist who persuaded the United States Supreme Court to make it easier for corporate complainants to gain reprisal demands suffered a setback on Monday, since a verdict was expelled from the jury that granted other damage and other Damage.
In a 2-1 decision, the Second Court of Appeals of the United States Circuit in Manhattan said that the jury’s defective instructions in the 2020 Trevor Murray trial made it too easy to conclude that their complaint of complaint contributed to the Swiss bank decision to fire him.
A contributing factor “should actually cause or help cause the termination decision: it is not enough to influence the termination, or generally be the type of things that tend to cause the termination,” wrote circuit judge Michael Park.
The decision means that UBS does not need to pay Murray the jury verdict of $ 903,300, plus $ 1.77 million for legal invoices.
The American district judge Katherine Polk Failo in Manhattan had ordered the jury that the complainant could be a contributing factor in Murray’s termination if “tended to somehow affect” UBS’s decision to fire him.
Park said this let the jury members responsible without evidence that Murray’s complainant “really did it” with his shot. The Court of Appeals returned the case to Failla.
Murray’s lawyers did not immediately respond to comments requests. Ubs declined to comment.
Monday’s decision followed a unanimous ruling of the Supreme Court last February that restored the jury verdict, which the second circuit had previously ruled out.
Related: The Supreme Court in the UBS case makes it easier for complainants to win costumes
That ruling said that the complainants of the financial industry do not need to demonstrate that their employers dismissed them with “intention of retaliation”, but only that they were treated differently by the bidding complaint.
Murray said UBS fired him in February 2012 after he complained about the pressure to issue bullish investigations on values supported by commercial mortgages to support the bank’s commercial operations.
He said that UBS’s behavior violated the Sarbanes-Oxley Corporate Governance Law.
UBS said he fired Murray as part of a broader cost reduction that included thousands of job losses, after a loss of $ 2 billion for a dishonest merchant.
Circuit judge Myrna Pérez dismitted from Monday’s decision, saying that reasonable jurors would have understood the “perfectly adequate” failed instructions.
The case is Murray V UBS Securities LLC et al, Second Court of Appeals of the United States Circuit, No. 20-4202.
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