Former Bank of America employee files Finra arbitration claim

Joe Voboril is seeking $20 million in damages for wrongful termination

Jul 5, 2018 @ 10:20 am

By Bloomberg News

Former Bank of America Corp. employee Joe Voboril filed an arbitration claim against the firm, claiming he was wrongfully terminated after an investigation into another banker's alleged inappropriate sexual conduct, according to Mr. Voboril's lawyer.

Mr. Voboril's claim, filed Friday with the Financial Industry Regulatory Authority Inc., accuses the bank of retaliation, defamation and breach of contract, said Brian Kennedy, Mr. Voboril's attorney. CNBC reported earlier Tuesday that the claim seeks at least $20 million in damages. Mr. Kennedy didn't provide a copy of the claim.

Bill Halldin, a Bank of America spokesman, said: "We stand by the decision to terminate Mr. Voboril. We will review this filing when we receive it."

Mr. Voboril and another employee were dismissed in late February for insufficiently disclosing information as the bank investigated a complaint against prime brokerage executive Omeed Malik, outlets including Bloomberg reported at the time. Mr. Malik, who has filed his own Finra arbitration claim, has disputed the allegations.


What do you think?

View comments

Recommended for you

Featured video


3 Questions to ask yourself when making your succession plan

Michael Futterman from Janus Henderson Investors has sage advice for advisers as they approach retirement.

Latest news & opinion

Genstar Capital buys majority stake in Cetera Financial Group

The private-equity firm has previously invested in such companies as Mercer Advisors and AssetMark.

Cetera Financial Group close to announcing its acquisition by private equity

Details of sale to one or more P-E firms could be announced as early as today.

10 best states for retirement

When it comes to places to retire, here are the 10 best states for enjoying your golden years.

Focus Financial raises goal for IPO to $600 million

Company's revised goal from $100 million could be a sign RIA valuations are rising.

CFA Institute adding crypto, blockchain to curriculum

Subjects will be added to its Level I and II coursework for the first time next year.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print