Ex-FXCM employee asks Court to break the silence in workplace harassment lawsuit

Maria Nikolova

Alon Nachmany, a former systems engineer at FXCM’s New York office, asks the Court for an update in his case, which has barely budged for the past three years.

Warning: The following article includes content that some readers may find disturbing.

The situation around lawsuits targeting FXCM Inc, now known as Global Brokerage Inc (OTCMKTS:GLBR), has gone complicated due to the bankruptcy proceedings involving the company. One of the claims against Global Brokerage is that launched by Alon Nachmany, a former employee at FXCM’s New York office. In fact, Nachmany’s claim seeks a bigger sum compared to all other claims.

On January 12, 2016, Alon Nachmany filed a Complaint against the defendants – FXCM Inc, Ryan Leonard, and Seth Lyons. On April 14, 2016, the defendants moved to dismiss and strike. That motion is still pending before the New York Southern District Court.

During the pendency of the motion, Global Brokerage filed for bankruptcy and the Court ordered all proceedings in the matter to be stayed. On February 12, 2018, the defendants informed the Court that FXCM had emerged from bankruptcy proceedings, and the stay was lifted.

On June 18, 2018, the counsel for the plaintiff filed the first request seeking an update on the status of the defendants’ motion to dismiss/strike. Then, another request was filed on December 13, 2018. As there has been no response to the request, the plaintiff’s counsel now files another request for an update. This motion has now been pending before the court for approximately three years.

What is the case about?

This is an action brought to address discrimination and harassment in employment. The plaintiff – Alon Nachmany, alleges that the defendants terminated his employment with FXCM as a result of his statuses in statutorily protected classes of employees, namely national origin, sexual harassment, and/or sexual orientation.

From July 2, 2012, to September 2, 2014, Nachmany was employed by FXCM as a Systems Engineer. During all relevant times, Seth Lyons worked at FXCM as a Senior Systems Engineer. At all relevant times in this matter, Ryan Leonard worked at FXCM as Director of Productions Engineering and subsequently Chief Information Officer.

Nachmany claims that, during his tenure at FXCM, he was subjected to a multitude of demeaning and derogatory comments and actions that specifically attacked his national origin, religion, sex, as well as constantly being subjected to harassing behavior that was offensive.

For example, Leonard taunted Nachmany for his abstention from eating pork products by placing such products in and around Nachmany’s work space. Additionally, Leonard and Lyons mocked Nachmany during a period of tumult in the ongoing Israeli/Palestinian conflict, when rockets were being launched in the Israeli territory.

Further, Leonard posted a derogatory message on the white board that was centrally located in FXCM’s space IT Department. The message read: “Alon is a dick. Why won’t he shut the fuck up? That is all asshole.” This posting remained for nearly two months in the face of Nachmany’s requests for the posting to be removed. In addition, Nachmany was often berated with phrases like “meat spin”, “lemon party” and “tub girl” (Please, do not search these words online – Ed.).

Plaintiff was integral in FXCM maintaining its operational capabilities during Super Storm Sandy. With the storm bearing down on New York, FXCM closed its doors on Monday, October 29, 2012, at 8pm, and Nachmany was instructed to continue to work from his home. However, due to the entire system losing connectivity, Lyons told Nachmany, via phone, to return to the office. Despite the peril to his health, Nachmany tried to reach FXCM’s office. Nachmany actually traversed several blocks on foot, literally holding on to street signs to avoid being blown away.

Upon arriving at the office, the plaintiff attempted to enter the building but could not enter because the lobby was flooded.

The next morning, at around 9am, Nachmany went back to the office, again at the instruction of Lyons. However, he could not access FXCM’s office.

For the next several months, Nachmany was integral in setting up FXCM’s Data Center in New Jersey as FXCM’s temporary headquarters.

One week after a meeting between Eduard Yusupov, Leonard and Nachmany, on September 2, 2014, Nachmany’s employment contract with FXCM was terminated.

The plaintiff is now seeking, inter alia, compensatory damages in the amount of $400,000.

Read this next

Web3

MoonPay onboards Gucci, Puma, and Mastercard to Web3 Tools

Blockchain payments infrastructure firm MoonPay has unveiled a new platform to simplify the Web3 experience for brands and consumers. The platform, dubbed Web3 Tools, helps brands provide a less complex Web3 journey.

blockdag

BlockDAG’s Keynote Video Drives $34.7M in Presales, Gaining Traction Among Solana (SOL) Investors and Litecoin Enthusiasts

Discover BlockDAG’s leadership in cryptocurrency, attracting Solana (SOL) investors and Litecoin enthusiasts with its strong growth prospects and groundbreaking mining technology. 

Digital Assets

Mt. Gox users alarmed by $10 billion transfer to unknown wallet

Mt. Gox has transferred 42,830 BTC, worth about $2.9 billion, from its cold wallets, according to Arkham Intelligence data. This marks the first major transfer from the defunct bitcoin exchange in five years.

Digital Assets

FTX co-CEO, SBF’s close associate sentenced to 90 months in prison

Former FTX executive Ryan Salame has been sentenced to 90 months in prison after pleading guilty to criminal charges last September.

blockdag

BlockDAG Dominates Crypto Presales With $34.7M Milestone, Surpassing Floki And Bonk In Market Influence

Discover how BlockDAG’s cutting-edge dashboard and presale achievements upstage Floki and Bonk in the cryptocurrency arena, signaling superior investment opportunities.

Market News, Tech and Fundamental, Technical Analysis

Dogecoin Technical Analysis Report 28 May, 2024

Dogecoin cryptocurrency can be expected to fall further toward the next support level 0.1500.

Retail FX

Canadian broker Questrade taps TradingView charting

Canadian securities brokerage Questrade has upgraded its web platform by integrating popular charting software TradingView.

Fintech

Germany lifts N26’s monthly cap of 60,000 new clients

Germany’s financial regulator has lifted a cap on the number of new clients that N26 Bank AG can take on after the fintech company improved its anti-money laundering controls. BaFin, the country’s financial watchdog, will remove the cap entirely from June 1, 2024.

Education

Animals and the money: Octa broker gathered the most popular slang words in financial markets

If you’ve seen ‘The Wolf of Wall Street’ with Leonardo DiCaprio as Jordan Belfort, you might have wondered why he’s called a wolf in the movie. It’s not just a random label. Animals are often used in finance to describe traders, their traits, or market conditions.

<