A Wall Street firm wants to collect a $4 million breakup fee from a banker who never started his job. Judges will soon rule if that's legal.

Apr 18 2024 by Business Insider

 
Jefferies inserted a $4 million break-up fee in an offer contract and wants it to be paid.

Epic Cure/Shutterstock

Jefferies included a $4 million break-up fee in an offer letter to a banker.The Wall Street bank is demanding payment after Dean Decker stayed with Credit Suisse after signing.A California appeals court is expected to rule shortly on whether the break-up clause was legal.

A Wall Street bank inserted a $4 million break-up fee into an offer letter and demanded the payment after the...

Continue Reading A Wall Street firm wants to collect a $4 million breakup fee from a banker who never started his job. Judges will soon rule if that's legal.