Republican presidential candidate and businessman Vivek Ramaswamy is facing two lawsuits from former employees who say that when they worked at the company he cofounded, Strive Asset Management, they were aggressively pressured into violating securities laws, according to Bloomberg, which first reported these lawsuits Friday morning.
Joyce Rosely—who filed a lawsuit Aug. 8 in New Jersey that names Ramaswamy, Strive Asset Management and cofounder Anson Frericks as defendants—alleges she was fired as co-head of institutional sales because she raised concerns about an executive making aggressive sexual advances toward a lower level staffer at the firm and about securities laws violations.
Rosely also claimed Ramaswamy and Frericks pressured her into using sales materials that promised customers future returns and allowing unregistered employees to make sales pitches to customers, which both constitute securities violations.
Additionally, Rosely allegedly complained about Ramaswamy’s social media posts, which, in her view, amounted to illegal securities sales.
Another lawsuit was filed in June by John Phillips, who said he was lured to Strive Asset Management from his previous JPMorgan job on false promises that the firm had good financing and that Ramaswamy, who promptly quit to run for president, was committed to the company.
Phillips alleged that Ramaswamy misrepresented Strive Asset Management’s finances to employees and investors, and that the company,...
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