![]() Steward Partners is confident the claims will be dismissed.’ Maurer’s claims were investigated when first brought and found to be meritless. Steward’s Washington, DC-based attorney Ken Willner, with law firm Paul Hastings, provided the following statement to Citywire on Thursday: ‘We just received the complaint this morning but, on first review, it seems to be a rehashing of some claims that were brought in 2017 and already dismissed in arbitration. Maurer, the founder and largest shareholder of the company, was entirely excluded.’ ‘Shortly after expelling him, Respondents enriched themselves through internal tender offers and capital raises from which Mr. Maurer and his prior counsel for the purpose of preempting this action to recover his units,’ the statement of claim said. ‘Respondents subsequently initiated multiple frivolous litigations against Mr. This was after Maurer had directed McMahon, in his capacity as chairman, to conduct an investigation into various allegations that Gold and Saporta were engaging in inappropriate workplace behavior and business practices. Among other remedies, Maurer is seeking to be reinstalled at the helm of the company.Īccording to the statement, a copy of which was obtained by Citywire, Maurer was ‘unlawfully expelled’ from Steward and stripped of 6.1 million units in the company, which he claims are valued at nearly $60m. On Wednesday, Maurer filed a statement of claim with the American Arbitration Association against the firm, chairman Michael McMahon, chief executive Jim Gold, and president and chief operating officer Hy Saporta. ![]() Maurer served as managing member and executive chairman of Steward, an independent RIA platform associated with Raymond James, from the time of its launch in 2013 to his not-so-amicable exit less than four years later. The founder of Steward Partners, Mike Maurer, claims members of the firm’s current leadership unlawfully pushed him out of the company in 2017 and engaged in other illegal activity before and after his ouster. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |