Arbitration

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7^th Circuit Court of Appeals

Case Name: Nicholas Webb, et al v. Michael Frawley

Case No.: 16-3336

Officials: BAUER, POSNER, and HAMILTON, Circuit Judges.

Focus: Arbitration

Jefferies LLC, a securities and investment-banking firm, in 2012 hired Michael Frawley to be the firm’s vice chairman and global head of metals and listed products. Nicholas Webb, a sales executive in the global metals group headed by Frawley of a firm they had previously worked for, and Thad Beversdorf, a director of that group, were hired by Jefferies on the same day that Frawley was hired. Webb and Beversdorf signed employment contracts with Jefferies in which they “consent[ed] that any arbitration proceeding brought with respect to matters related to your employment or this Agreement shall be brought before FINRA … or if the parties are permitted to bring such action in a state or federal court, then you hereby consent to the personal jurisdiction of the state and federal courts … [in New York City] with respect to matters related to your employment or this Agreement.”

Affirmed in part, reversed in part

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.