According to the L.A. Times, citing "morally reprehensible" conduct by Wedbush Inc., an arbitration panel has ordered the Los Angeles securities firm to pay a former bond trader $3.5 million in withheld compensation.
Stephen Kelleher, who won the award, alleged in his complaint that company Chairman Edward Wedbush had personally withheld pay from many high-level staff members in recent years.
"This guy has been doing this to a lot of people for a long time," Kelleher said in an interview Tuesday…
Find out more at; http://www.latimes.com/business/la-fi-wedbush-ruling-20110629,0,4333442.story
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