LAWFUEL – Legal News Network – Mr. Richard S. Corenthal, Esq., employment and labor partner in the New York law firm of Meyer, Suozzi, English & Klein, P.C. is available to discuss the action filed by Paul A. Flynn against his former employer Canadian Imperial Bank of Commerce (CIBC) and related companies, CIBC World Markets Corp. and Canadian Imperial Holdings, Inc., after the dismissal of all criminal charges brought against Mr. Flynn by the NYS Attorney General and all of the charges in the civil proceeding by the Enforcement Division of the SEC regarding CIBC market timing trading practices of certain mutual funds. Mr. Flynn seeks compensation, severance, bonuses, punitive damages and other relief for malicious prosecution, breach of contract, conversion and other claims
Last week, the SEC entered an order imposing $100,000 in sanctions against Marshall Dornfeld, formerly a Managing Director at CIBC World Markets Corp., serving as Head of Financial Services, for failure to supervise brokers and registered representatives, and failure to respond reasonably to red flags reflecting CIBC brokers’ conduct. The SEC last week also initiated proceedings against several former CIBC registered brokers and senior managers asserting collaboration in market timing trading practices of certain mutual funds. A penalty of $125 million was imposed against CIBC and others in an agreement with the NYS Attorney General and the SEC in connection with this scheme.
“As fully detailed in Mr. Flynn’s Complaint filed in N.Y.S. Supreme Court, New York County, CIBC made Flynn its scapegoat and blamed Flynn for its unlawful practices. CIBC unjustly terminated Flynn’s employment and caused Flynn to be arrested and prosecuted. Flynn fought back and won. The Attorney General dropped all of the charges against him and the SEC also cleared him. But CIBC’s malicious charges and unjust termination of his employment have ruined Mr. Flynn’s career and harmed his family.”
“With dismissal of all criminal and civil enforcement charges, Mr. Flynn’s official record is clean once more.” Corenthal continued. “Flynn wants CIBC to be held publicly accountable in a court of law. Not only does he want the entire record set straight,” Corenthal concludes, “Mr. Flynn wants a judge and jury to condemn what CIBC did to him, and for CIBC to pay him what they took from him and to right its wrongs. He does not want anyone else to be subjected to this type of injustice.”
Mr. Corenthal is experienced in a wide range of labor and employment matters in federal and state courts and before various administrative agencies. He has litigated numerous employment-related claims, including sexual harassment, age, race, national origin, disability, minimum labor standards, overtime, breach of contract and whistleblower claims. Mr. Corenthal is a former Assistant Attorney General and Deputy Chief of the Labor Bureau under NYS Attorney General Robert Abrams. Meyer, Suozzi, English & Klein, P.C. is a nationally respected leader in labor and employment as well as in tax certiorari, criminal law, zoning and real estate, trust and estates, litigation and appeals matters.