Tuesday, 26 May 2015
Last updated 2 hours ago
Nov 15 2010 | 4:19am ET
Hedge fund manager Olav Refvik has lost his wrongful termination claim against former employer Morgan Stanley.
Refvik, who founded Arrowhawk Capital Partners after leaving the bank in 2008, alleged that Morgan Stanley had breached an implied contract when it handed his responsibilities over to a colleague that year. He also filed claims of unjust enrichment and improper forfeiture of vested stock and options against the firm, seeking $30 million.
But a Financial Industry Regulatory Authority arbitration panel sided with Morgan Stanley, giving Refvik nothing. The three-member panel did not explain its rationale, although one of the three arbitrators dissented, saying he would have awarded Refvik “some relief” for the undelivered stock and options.
In September, Refvik joined Noble Group as head of oil and oil products trading. He remains a strategic adviser at Darien, Conn.-based Arrowhawk.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…