HSBC will pay former employee Ben Lazimy $63,400 for dismissing him over an email sent to Lazimy’s personal Yahoo! Address, a Paris court ruled on Monday. Lazimy was seeking $2.6 million in compensation.
Lazimy, an equity derivatives trader, sent a 1,400-page spreadsheet containing HSBC’s equities transactions in 2010 to his personal Yahoo! email address. The document included client names and margins. Lazimy’s lawyer Jamila El Berry said that her client did not break any confidentiality agreement as the document never got into the hands of a third party. The document was also available to anyone at the bank, even to the interns.
Police also discovered that the email attachment was “damaged and unusable.” Lazimy will appeal his case. HSBC hasn’t commented on the ruling yet.
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