A former partner of hedge fund giant DE Shaw Group was awarded $52 million by an industry arbitration panel, which determined that the company and its four top executives had smeared smeared him by alleging that his exit from the hedge fund was related to sexual misconduct.
In 2018, Daniel Michalow submit a complaint with the Financial Industry Regulatory Authority seeking $600 million in lost wages and other damages, as well as a “remedial statement” from DE Shaw. Michalow did not receive a statement from the company, but the award is a record for a Finra case in which a member of the financial services industry filed a complaint against his employer.
