A career securities broker who was fired by SunTrust Robinson Humphrey Inc., and saw his reputation “ruined” by defamatory language placed in his termination notice has been awarded $4.2 million, including $2.5 million in punitive damages and more than $400,000 in attorney fees, by a regulatory arbitration panel.
In a Dec. 28 order, the Financial Industry Regulatory Authority (FINRA) panel found that Lance R. Beck, a 19-year employee of the firm, had been improperly fired and that the company had deliberately sabotaged his future job prospects.
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