Ex-FXCM employee seeks update in harassment lawsuit as NY Court remains silent

Maria Nikolova

The lawsuit brought by Alon Nachmany, a former systems engineer at FXCM’s New York office, has been pending for over three years.

The persisting silence of the New York Southern District Court in the workplace harassment lawsuit brought by Alon Nachmany, a former employee of FXCM Inc, now known as Global Brokerage Inc (OTCMKTS:GLBR), has prompted the plaintiff’s counsel to file another request for an update with the Court. The request was submitted earlier this week.

Let’s recall that 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.

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.

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.

According to the allegations, 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.

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 seeking, inter alia, compensatory damages in the amount of $400,000.

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. A third request was submitted on April 24, 2019. 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 more than three years.

Read this next

Retail FX

Interactive Brokers doubles client accounts to 2 million in 24 months

Electronic brokerage firm Interactive Brokers LLC (NASDAQ:IBKR) said its trading volumes took a slight step back in September, an indication that investor confidence is still fairly mixed over the past few months.

Digital Assets

DeFiChain tokenizes Walmart, Unilever, US Oil and Gas Funds

Bitcoin-based DeFi platform DeFiChain is opening up the opportunity for its users to trade crypto versions of Walmart, Unilever, US Oil Fund, and US Gas Fund.

Industry News

The B2Broker B2Core REST API Is Now Live

B2Broker has announced the release of its new REST API, which lets customers use B2Broker’s solutions and services for business purposes.

Executive Moves

CME Group taps Paul Woolman to lead Equity Index, Giovanni Vicioso to lead Crypto

“Our equity and cryptocurrency businesses have experienced tremendous growth in recent years, underpinned by strong customer adoption and continued innovation.”

Technology

Sumsub launches document-free KYC for users in India, Brazil, Nigeria and Indonesia

Sumsub has launched one click-KYC for users in India, Brazil, Nigeria and Indonesia in a move that allows businesses to instantly onboard over 2 billion users without requesting their ID documents.

Digital Assets

Cboe becomes first major global exchange operator on DeFi data platform, Pyth Network

“Our participation in the Pyth network will provide another avenue to broaden customer access to our data, and aligns with our strategy to deliver market data to investors around the globe based on how they want to consume their data, whether through direct connectivity methods, the cloud or the blockchain.”

Industry News

FINRA fines Barclays Capital $2 million for best execution failures for 5 years

FINRA has fined Barclays Capital $2 million for failing to comply with its best execution obligations in connection with its customers’ electronic equity orders between January 2014 and February 2019. 

Digital Assets

SETL helps SWIFT, CSDs and custodians develop common framework for tokenisation systems

London-based enterprise DLT and blockchain company SETL has delivered a pilot project for SWIFT which implemented a common framework linking tokenisation systems between central security depositories (CSDs) and global custodians.

Digital Assets

Crypto volumes hit CHF 87.1 million at Switzerland exchange

Switzerland’s principal exchange has experienced a rebound in trading activities for September 2022, with monthly volumes increasing by more than 20 percent MoM.

<