Liddle & Robinson Attorneys at Law New York City

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Erickson et al. v. Kidder Peabody & Co., In - 6/22/1995

Case Summary: In the spring of 1995, Liddle & Robinson represented seven former Kidder Peabody employees with claims against the firm. Their claims included age, race and sex discrimination, as well as claims for unpaid compensation. During that time period, Kidder Peabody sold its assets to PaineWebber. Because Kidder Peabody was in the process of shutting down its business, and in order to ensure that there would be sufficient funds for our clients to collect in the event they won their cases, we filed a lawsuit on behalf of these seven individuals to enjoin Kidder Peabody from transferring up to $50 million of its assets and to set aside that amount in a separate account. Although the Court declined to force Kidder to do so at that point in time, Kidder Peabody promised to notify us if its assets fell below $50 million so that we could seek appropriate judicial relief. This extraordinary legal strategy succeeded in ensuring that Kidder Peabody could not overnight shut down and leave our clients, with legitimate and valuable claims, with no means to collect should they win their cases.

Jeffrey L. Liddle

Judge: Elliot Wilk

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