Unpaid Bonuses Litigation In Manhattan
How Do Bonus Disputes Arise?
Executives and professionals, particularly in the financial services industry, are typically paid a significant percentage of their compensation as a bonus after the end of the year in which their services were rendered.
When an employee resigns or is terminated before the end of the fiscal or calendar year or before bonuses are paid, employers frequently refuse to pay the former employee a bonus.
Some employers contend the bonus was discretionary under their employment contract or that no employment contract existed. However, there are several legal grounds in New York City on which, based on the facts and circumstances, a terminated employee may be entitled to recover their unpaid bonuses, either proportionately or in full.
NYC Unpaid Bonus Attorney David S. Rich has extensive experience representing executives who seek to recover their unpaid bonuses.
Bonus Dispute Litigation and FINRA Arbitration
FINRA arbitration panels decide the majority of Wall Street compensation disputes. FINRA, NASD, and NYSE arbitration panels have predominantly found that terminated employees are entitled to full or pro rata bonuses for a prior year or years’ employment, despite their former employer’s contention that the employee’s bonus was at their discretion.
If your former employer is denying you a bonus or you wish to contest a determination made concerning your bonus, contact Law Offices of David S. Rich. We assist various financial executives and professionals who seek to recover unpaid bonuses or incentive compensation, including:
- Investment bankers
- Stock, bond, options, derivatives, currency, commodities, and futures traders
- Financial analysts and research analysts
- Other financial services employees
You May Have Causes of Action Against Your Employer for Failing to Pay you a Bonus
Under NY law, a terminated employee may pursue, among other claims, causes of action for breach of contract, express or implied, quantum meruit, in violation of Article 6 of NY Labor Law against their employer for failing to compensate them for bonuses owed to them, even where no agreement to pay bonuses is outlined in writing. See Attorney David S. Rich’s articles published in national journals on these issues.
Contact experienced employment attorney David S. Rich to consult about your bonus dispute.
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