A former JPMorgan employee, wrongfully fired for covers, won more than $4 million in damages from the Wall Street company and its broker in a costly trade dispute over an exorbitant salami platter for a Super Bowl party, an allegation that has since been taking over the news cycle.
FINRA ordered JPMorgan Chase to pay former broker Brent Ryan Bodner roughly $4.25 million in damages after ruling against the firm.
What Was The Deli Platter Issue About?
The case arises from an expense dispute involving $642.50 for a deli platter. JPMorgan apparently assumed the catering was intended for a personal Super Bowl party rather than a legitimate business function.
According to Bodner, though, the massive catering order was for a gathering of his clients and prospective clients at his Beverly Hills home and was preapproved by the company as business hospitality.
After going over the case, the FINRA arbitration panel agreed with Bodner and decided that JPMorgan should pay millions. News reports said the panel also “deleted his termination” record and listed him as “voluntary.
The award is said to cover damages, interest payments and to reimburse the legal-related fees.
JP Morgan Responds To The Verdict
A JPM representative said the bank disagreed with the arbitration and that it had justified disciplinary action. The bank said that the expense submission was not warranted by company policy. The bank has yet to confirm what, if any, course it is taking with appeal or challenge.
A report says that well known former JPMorgan broker Brent Ryan Bodner now works at Wells Fargo.
Bodner had reportedly been awarded nearly $30M in damages during proceedings and the arbitration panel awarded him almost $4.25M.
Making Headlines Online
The case’s weirdness helped to boost the online response to it. Social media users discussed how “the deli platter” expense resulted in a million-dollar arbitration against one of America’s largest banks.
Disclaimer: This article is based on publicly available reports and legal filings at the time of publishing. Allegations and claims mentioned in the case reflect statements made during arbitration proceedings and media coverage. The matter involves legal interpretations, and further updates or appeals may emerge in the future.
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