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Solomon Smith Barney Broker Wins CAP and Bonus Suit
The firm was ordered to pay the branch manager $730,000, reinstating his Capital Appreciation Plan (CAP) assets. He also received $115,000 for a longevity bonus that he forfeited.
The broker had contributed to the plan since its inception in 1993 until he was asked to resign, and locked out of his office, before reaching the CAP's two year vesting period.
The firm maintains its innocence, but will pay the award.
Source: Registered Representative, August, 2000
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