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Citi Sued over Dismissal of Many Ex-sales Traders in HK in 2019
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This month, Christopher So and Alrick Lee, former directors of Citigroup (C.US)'s Asia Sales Trading division, and Kenny Cheung, a former vice-president, filed a lawsuit against Citigroup in Hong Kong seeking compensation for unreasonable dismissal, including payment of pensions and payment in lieu of notice, according to Bloomberg. At the end of 2024, the Hong Kong Labour Tribunal ruled that Citigroup's immediate dismissal of Cindy Lui, former sales trader on the same team, in 2019 was not justified. The above 4 people were dismissed after Hong Kong regulators found long-standing problems with the way Citigroup's Asia markets division communicated information about specific stock positions to clients. AAStocks Financial News |
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