How An Innocuous Lunch Date May Cost One Investor $2.7 Million

desk lunch

Photo: Matt Seppings via Flickr

This could definitely turn out to be the world’s most expensive lunch date.The Daily Mail is reporting that Fahim Imam-Sadeque is suing his former employer, London-based BlueBay Asset Management, claiming that the firm withheld £1.7 million (about $2.7 million) from him. The asset management firm is saying they withheld the money from Imam-Sadeque because he allegedly breached a contract agreement.

There’s a lot of back-and-forth between the two parties, but the story started when Imam-Sadeque took another job as head of sales with Goldbridge Capital Partners in the middle of last year. It was decided that he would received ~$2.7 million worth of shares in the BlueBay as part of his departure agreement, and he had to take a working grace period between August 2011 and January 2012.

During the grace period, Imam-Sadeque emailed his former co-worker at BlueBay and invited him out for lunch. BlueBay saw this lunch date invitation as a poaching attempt by Imam-Sadeque, and withheld the $2.7 million that was previously agreed on.

Now, Imam-Sadeque is retaliating by suing BlueBay, but the firm isn’t backing down. This could be an interesting case to watch unfold.

Read the Daily Mail report here >

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