Liddle & Robinson Attorneys at Law New York City

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William Kelly v. Prudential Bache Securities - 5/24/1988

Award Amount- $900,000.00

Case Summary: In perhaps the first securities industry arbitration award made in favor of an employee, we secured a $75,750.00 award in favor of our client, William Kelly – one of the industry’s leading high-yield corporate bond salesmen and traders – against Prudential Bache on a breach of contract claim. This award was made after Mr. Kelly had mitigated his damages by $825,000. The five-member arbitration panel, which was standard for arbitration panels at the time, also assessed Prudential Bache with $2,250.00 in costs. This groundbreaking award paved the way for employees to vindicate their rights in arbitration in the following decade.

Jeffrey L. Liddle

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