FAST FIVE: Former D.E. Shaw Manager Wins $52 Million Defamation Award After Being Fired For "Offensive Conduct" In 2018
Shaw Manager Wins $52 Million Defamation Award After Being Fired For “Offensive Conduct” In 2018 A veteran former D.E.
The amount is one of the largest of its kind in recent memory. The manager, Daniel Michalow, originally had sought $600 million from the firm.
This investigation led to Michalow's firing.
Michalow wrote to company founder David Shaw afterward, calling himself a “scapegoat with a proverbial hanging in the town square”.
“While I was surely an abrasive boss and perhaps deserved to be fired for my style, there is no basis for the whisper campaign about anything sexual,” he wrote, according to the Bloomberg wrap up. The arbitration panel eventually found that he “did not commit sexual misconduct.” One lawyer who specializes in arbitration said the award was “freaking massive”, and went on to say if “you get $1 million [in arbitration], you're an outlier for that year.” Michalow's original letter to Shaw can be read here: This is the letter D.