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David B. Linker v. Koch Investments, Inc. - 7/30/1999

Case Summary: In a July 30, 1999 Opinion and Order (62 F.Supp.2d 611 (D.Conn. 1999)) the United States District Court for the District of Connecticut denied Koch Investments' motion to dismiss the claims of our client, David B. Linker, who sought promised but unpaid bonus compensation for calendar year 1996. Koch Investments, a subsidiary of the Wichita, Kansas-based conglomerate Koch Industries, hired Mr. Linker as a proprietary securities trader. As set forth in the Court's Opinion, Mr. Linker claimed that Koch had promised him a bonus for 1996 in "multiples" of his base salary. Mr. Linker claimed that Koch had agreed to create a bonus pool constituting 15-20 percent of his trading profits, and that Koch Industries had promised to provide Koch Investments with $100 million in capital for proprietary trading operations, for a minimum of three years, and to permit Koch Investments to leverage that amount up to $1 billion. The Court concluded that Mr. Linker had set forth valid claims, subject to ultimate determination by a jury, for breach of contract, quantum meruit and breach of Connecticut's Wage Law (in connection with the failure to pay him the promised bonus) as well as promissory estoppel and negligent misrepresentation (in connection with Mr. Linker's decision to forego other job opportunities based on the strengths of Koch's promises). Following the Court's decision and before trial, the case settled.

Jeffrey L. Liddle

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