The London Stock Exchange (LSE) has won a legal battle against Eli Lederman, the former CEO of trading platform Turquoise, The Wall Street Journal reports. The suit was filed as Lederman had alleged that he was unfairly dismissed from his post after the LSE acquired a majority stake in Turquoise in February 2010.
Lederman said that the acquisition fell under the Transfer of Undertakings law, as per which an employee’s employment terms and conditions still apply when he/she gets a new employer. The case was dismissed as LSE argued that Turquoise remained a separate company after the acquisition, with its own shareholders and board.
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