Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Gamco Sues One of Its Own Distro Execs Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 15, 2018

Gamco Sues One of Its Own Distro Execs

News summary by MFWire's editors

A dispute between Mario Gabelli's mutual fund shop and one of his distribution executives has spilled over into federal court.

Rye, New York-based Gamco Investors [profile] sued senior vice president and national sales manager Jim Scanlon in federal court in White Plains, the Westchester County Business Journal reports. Scanlon filed a $6.5-million claim with the American Arbitration Association, the Journal notes, and Gamco is trying to push that fight into arbitration with Finra instead.

Scanlon accuses Gamco of clawing back more than $100,000 in commissions, of never paying hundreds of thousands more in commissions, and of illegally forcing him to pay for his team's entertainment and travel expenses, attorney David Harmon tells the Journal.

On the flip side, Gabelli's company contends that Scanlon's accusations are meritless, that he was well-paid, and that "Scanlon is violating his hiring agreement by asserting his claims in the wrong forum and doing so more than 180 days after the problems arose." The company also accuses Scanlon of trying to divert his team's commissions to himself.

An alumnus of Western New England University, Scanlon joined Gamco in 2006 after working in retirement sales at Merrill and Putnam. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use