California company settles wrongful termination claim

Loss of employment for unlawful reasons can put a worker and their family in financial and emotional turmoil. A former employee filed a wrongful termination lawsuit against California employer, CalPERS. The former employee claims that she was terminated for debating the company's insider trades. The case has since settled in the amount of $57,200.

Reportedly, a woman was employed by the company in its watchdog department to ensure compliance with investment regulations. During her employment, CalPERS purchased millions of dollars in stock in JP Morgan Chase and Midstream Partners. The woman observed that these purchases were in violation of certain trading laws and informed the company about it. She requested that CalPERS rescind the transaction, but the company declined to do so.

A short time afterward, the woman was terminated from her position. She filed a lawsuit and the company decided to settle with her. The company preferred to settle instead of risking the possibility of even more expenses from a hearing in front of a State Personnel Board. The settlement is in the amount of 13 months of pay for the woman along with showing her termination as voluntary.

Employment is a means for many California workers to provide for their families. Without employment, bills may become late or even unpaid, especially in households that live paycheck to paycheck. Terminating someone for poor performance is one thing, but it's illegal to terminate someone out of retaliatory purposes. Workers who were terminated out of retaliation have the right to file wrongful termination claims against the employers. Successfully navigated claims may result in the court awarding these workers compensation they need.

Source: The Sacramento Bee, CalPERS termination case settled, Jon Ortiz Entertainment Events Movies, Feb. 4, 2014

No Comments

Leave a comment
Comment Information
  • Save To Favorites
  • Print This Page
  • Email Us
  • Site Map