SOLID ADVICE FOR BROKERS WITH WRONGFUL TERMINATION, DISCRIMINATION AND HARASSMENT CLAIMS NATIONWIDE
If you are a stockbroker are have been the victim of: Wrongful Termination; Discrimination (e.g., sex, race, color, harassment, national origin, religion, age, and disability); Harassment (e.g., Sexual Harassment, Hostile Work Environment); Retaliation; Denial of Leave (e.g. Family and Medical Leave Act); Americans with Disability Act claims; or Executive Pay Disputes, you should contact an experienced securities industry employment lawyer.
Once upon a time, registered employees of brokerage firms who believed they were discharged, passed over for promotion, or otherwise discriminated against by their firm due to age, race, color, religion, sex, or national origin were absolutely required to arbitrate their claims by virtue of their NASD n/k/a FINRA membership and signature to a Form U-4. In 1991, the Supreme Court decided the landmark case Gilmer v. Interstate/Johnson Lane Corp. and changed all that.
The decision caused FINRA to modify its industry employment arbitration rules several times. Brokerage firms now need special arbitration agreements with employees to compel arbitration of statutory discrimination and sexual harassment claims. Yet, many other employee disputes related to their discrimination claims must be arbitrated.
The strategic decision about where, when, and how to file discrimination and related employment claims has become more complex. The decision requires counsel from an attorney well versed in wrongful termination, discrimination and harassment claims and FINRA arbitration rules, practices and procedures. The attorneys at the Law Offices of Robert Wayne Pearce, P. A. have over 40 years experience in helping brokers and financial advisors figure out whether they have solid wrongful termination, discrimination and harassment and where, when and how to sue their employers.
What Is Wrongful Termination?
Sometimes employees are let go for reasons that are unfair or illegal. This is termed wrongful termination, wrongful discharge, or wrongful dismissal. There are many scenarios that may be grounds for a wrongful termination lawsuit, including:
- Firing an employee out of retaliation
- Discrimination
- Firing a whistleblower
- Firing an employee who will not do something illegal for their employer
If you believe you may have been fired without proper cause, we may be able to help you recover back pay, unpaid wages, and other forms of compensation.
What Are the Most Common Forms of Workplace Discrimination?
It is illegal to discriminate against a job applicant or employee on the basis of race, color, religion, sex, national origin, disability, or age. However, some employers do just that, leading to a hostile and inequitable workplace where some workers are treated more favorably than others. Workplace discrimination can take many forms. Some examples include:
- Refusing to hire someone on the basis of their skin color
- Passing over a qualified female employee for a promotion in favor of a male employee with less experience
- Not providing equal training opportunities for employees of different religious backgrounds
- Imposing job eligibility criteria that deliberately screens out people with disabilities
- Firing someone based on a protected category
What Are Some Examples of Workplace Harassment?
When workers are subjected to slurs, assaults, threats, ridicule, offensive jokes, unwelcome sexual advances, or verbal or physical conduct of a sexual nature, it can be considered workplace harassment. Similar to workplace discrimination, workplace harassment creates a hostile and abusive work environment. Examples of workplace harassment include:
- Making unwelcome comments about a worker’s appearance or body
- Telling a vulgar or sexual joke to a coworker
- Using slurs or racial epithets
- Making prejudicial statements about a worker’s sexual orientation
- Making negative comments about an employee’s religious beliefs
- Making prejudicial statements about an employee’s birthplace or family heritage
- Making negative comments or jokes about the age of an employee over the age of 40
- Workplace harassment can also take the form of quid pro quo harassment. This means that the harassment results in an intangible change in an employee’s employment status. For example, an employee may be forced to tolerate sexual harassment from a manager as a condition of their continued employment.
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The Age Discrimination in Employment Act of 1967 (ADEA) makes it unlawful for an employer to discharge, refuse to hire, or otherwise discriminate an employee because of that employee’s age when that employee’s 40 or older.
The ADEA does not require an employer to provide “special treatment” for employees in the protected age group and can take whatever action it wants so long as it is not based on the employee’s age. The key for success on these claims is to show that the stockbroker was treated differently, specifically on the basis of age and not some other factor such as salary level, pension status, or seniority, which correlates with age. However, the employee’s age need not have been the only reason. The employee need only prove that his or her age played a part in its decision, a motivating factor in the employer’s decision or conduct.
Similarly, Title VII of the Civil Rights Act of 1964 (Title VII) prohibits employment practices that discriminate against individuals because of race, color, religion, sex, or national origin. Title VII provides that it is unlawful for certain designated employers to fail or refuse to hire or to discharge any individual or otherwise discriminate against any individual with respect to the individual’s compensation, terms, conditions, or privileges of employment because of such individual’s race, color, religion, sex, or national origin. It also prohibits an employer from limiting, segregating or classifying its employees, or applicants for employment, in any way that would deprive or tend to deprive any individual of employment opportunities or otherwise adversely affect the status of an employee because of such individual’s race, color, religion, sex, or national origin. Title VII applies to all brokerage firms with 15 or more employees providing the employees are not classified as bona fide independent contractors.
The burden of proving the brokerage firm intentionally treated the broker in a manner different from other employees on the basis of the prohibited factors such as age, race, color, religion, sex, or national origin and the invalidity of brokerage defenses requires the hiring of an attorney with knowledge of the securities industry and a trial lawyer with skill and experience in handling these claims. Attorney Pearce has all of the credentials and experience necessary to evaluate and prosecute your discrimination claims.
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