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Former Merrill Executive Awarded $1.2M
A FINRA arbitration panel awarded former Merrill Lynch executive Ahmass Fakahany $1.2 million in compensatory damages in an employment-related claim. Unfortunately for Mr. Fakahany, he reportedly was seeking $70 million - though his lawyer said that figure "is totally inaccurate." No explanation was given for the award or for what prompted Mr. Fakahany to bring the claim in the first place.
At Merrill, Mr. Fakahany held several positions - he was CFO, co-president (for a short time), and once oversaw risk management. Mr. Fakahany left Merrill Lynch in early 2008 and filed an arbitration claim in December of that year. He's now an investor in a number of successful New York City restaurants. [Dealbook, 3/30]
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