FXCM claims ex-IT employee accusing it of harassment was not treated less well than others

Maria Nikolova

If Alon Nachmany is entitled to any compensatory damages, he is only entitled to damages for no more than “garden variety” emotional distress, FXCM argues.

About a month after former FXCM Inc employee Alon Nachmany filed an amended complaint against his former employer, the defendants in the case have replied to the plaintiff’s allegations.

Let’s recall that Nachmany brings this lawsuit against his former employer, FXCM, Inc, and two of its employees, Ryan Leonard and Seth Lyons. 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 brought claims for employment discrimination on the basis of religion and national origin pursuant to Title VII, New York State Human Rights Law (“NYSHRL”), and New York City Human Rights Law (“NYCHRL”), for sexual harassment pursuant to Title VII, NYSCHRL, and NYCRHRL, and for civil assault/battery.

Nachmany alleges, inter alia, that he was subjected to sexual harassment, for instance, via a practice known as “Bieber”-ing, derogatory comments, and insults. Nachmany claims that the female employees at FXCM were considered as un-fire-able and were not subjected to the same treatment as male employees. The sexual harassment was accompanied by religious discrimination, the plaintiff says.

In a document filed with the New York Southern District Court on March 9, 2020, the defendants deny each and every allegation contained in the Prayer for Relief as to all Causes of Action in the Amended Complaint, and further deny that the plaintiff is entitled to any relief whatsoever in this action.

Let’s take a look at some of the affirmative defenses enlisted by the brokerage (which is currently known as Global Brokerage), Ryan Leonard and Seth Lyons.

According to the defendants, the Complaint fails to state a claim upon which relief may be granted.

Several of the affirmative defenses are formal and state that the plaintiff’s claims are barred as untimely and/or for failure to exhaust administrative remedies.

Further, according to the defendants, the plaintiff’s purported causes of action for national origin and religion discrimination are barred because at all relevant times the defendants’ actions with respect to the plaintiff were “taken in the legitimate exercise of managerial discretion and were based on legitimate, non-discriminatory, and non-retaliatory reasons”. The brokerage does not elaborate what managerial discretion has prompted posting x-rated images on one’s desktop.

The defendants insist that all alleged conduct by the defendants with respect to the plaintiff was justified.

Also, the defendants argue that the purported causes of action for sexual harassment under Title VII and the NYSHRL are barred because their alleged conduct with respect to Nachmany “was not severe or pervasive”.

In addition, the defendants claim they did not treat Nachmany less well than other employees. (This, of course, raises a question of what constitutes “treating well”, according to the defendant.)

Further, the defendants claim that their alleged conduct with respect to Nachmany was not based on sex.

“To the extent Plaintiff is entitled to any compensatory damages for emotional distress, he is only entitled to damages for no more than “garden variety” emotional distress”, the defendants say.

Nachmany’s claims are “frivolous, unreasonable and without foundation”, according to the defendants.

Read this next

Inside View

European share trading is much higher than believed, says report

“Regulators in the EU and UK need to take the opportunity presented by the imminent establishment of a Consolidated Tape for shares and ETFs to update relevant post-trade transparency rules, so that they capture the full scope of share trading activity in Europe. Without this, Europe risks being left behind.”

Digital Assets

Abra launches prime solutions for digital assets

As an SEC-registered RIA, ACM will now operate as a fiduciary and allow clients to get exposure to the digital asset ecosystem under a separate account structure built on-chain, where clients retain title and ownership over their assets and their assets will be independently verifiable on-chain.

Retail FX

Unusual Whales taps Tastytrade as exclusive options broker

“We’re huge fans of Unusual Whales and the transparency they bring to the markets, enabling traders to make informed decisions.”

Industry News

GenAI can help transform OTC derivatives markets, said ISDA whitepaper

The risks of GenAI, however, include data breaches, regulatory issues, bias, as well as sub-standard or simply false results.

Institutional FX

B2Broker ups leverage on major Forex pairs, BTC and ETH

“This strategic update not only enhances our clients’ competitive edge but also augments their capacity to cater to the evolving demands of their clientele, attract new business, and elevate their service standards by leveraging our liquidity solutions.”

Industry News

Avraham Eisenberg convicted of $110 million DEX manipulation

Avraham Eisenberg, 28, has been convicted of commodities fraud, commodities market manipulation, and wire fraud in connection with the manipulation of the Mango Markets decentralized cryptocurrency exchange.

blockdag

BlockDAG Attracts $18.1M In Presale, Drawing Investors From Dogecoin And UNUS SED LEO for Potential 30,000x ROI

As the markets for Dogecoin and UNUS SED LEO exhibit volatility, a significant number of investors are redirecting their focus towards BlockDAG during its Batch 9 presale, which has remarkably gathered $18.1 million.

Digital Assets

Coinbase launches perpetual futures trading for Dogwifhat memecoin

Coinbase International Exchange (CIE) will introduce perpetual futures trading for Solana-based memecoin dogwifhat ($WIF), starting April 25. These open-ended futures contracts can be traded using the USDC stablecoin.

Digital Assets

Kraken acquires TradeStation’s cryptocurrency business

Kraken, the second-largest U.S.-based cryptocurrency exchange, has acquired the cryptocurrency arm of online brokerage TradeStation.

<