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Reason
Reason
Politics
Eugene Volokh

REVEALED: 52m theylied libel arbitration award | Vintage Vibes

Sexual Misconduct

Barron's Kenneth Corbin reported Friday:

A Finra [Financial Industry Regulatory Authority] arbitration panel has awarded a former partner [Daniel Michalow] with the hedge fund group D.E. Shaw $52 million in damages in a defamation case that stemmed from rumors of sexual misconduct that the arbitrators concluded were untrue….

The arbitrators … concluded flatly: "The panel specifically finds that claimant did not commit sexual misconduct." …

Michalow's ouster from the firm came in early 2018, at the height of the #MeToo movement. In a letter sent in May that year to David E. Shaw, the hedge fund's founder, Michalaw acknowledged that he had been "abrasive and intolerant" as a boss, and admitted to instances of inappropriate language and nonsexual physical contact with employees like hugging.

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