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A federal appeals court in New York has ordered a former investment banker to forfeit all his compensation because of a pattern of disloyal acts. The decision reversed a U.S. district court decision that awarded $4.4 million to Rohit Phansalkar, an ex-partner at Andersen Weinroth & Co. The private equity firm had sued Phansalkar for failing to disclose certain fees and stock options he had received as a director on company boards.
September 18, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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