Deutsche Bank Securities Inc.‘s win in a retaliation suit brought by a former director has been upheld by the US Court of Appeals for the Second Circuit.
Fired managing director Neil Abromavage failed to demonstrate the investment firm’s reasoning for his zero bonus and termination was pretextual for his cooperation in an investigation concerning a coworker’s racially-charged comments, the New York-based appellate court said on Wednesday, affirming a district court decision granting Deutsche Bank summary judgment on his federal and state retaliation claims.
Abromavage headed Deutsche Bank’s Financial Institutions Group within Equity Capital Markets from 2006 to 2016, according to the panel’s unsigned summary order. In 2015, he participated in the bank’s investigation of an employee who reportedly made offensive comments towards Indian employees, among other allegations.
Abromavage reported that he’d personally witnessed the employee use slurs, and the employee was terminated. After the investigation, Abromavage said he suffered numerous adverse employment actions, including the reallocation of revenue previously attributed to him, reassignment of his clients, a zero bonus, and his eventual termination in 2016.
He sued the bank for retaliation under federal and New York law.
Deutsche Bank argued that it took the actions against Abromavage because his...
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