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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.

Summary by Business Insider
Jefferies inserted a $4 million break-up fee in an offer contract and wants it to be paid.Epic Cure/ShutterstockJefferies 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 off…

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Business Insider broke the news in United States on Thursday, April 18, 2024.
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