DE Shaw Ordered To Pay Record $52m Defamation Award To Daniel Michalow
Today, a FINRA arbitration panel awarded the largest defamation award to an individual in recent history to Daniel Michalow in the amount of $52,125,000. This dispute between D. E. Shaw, one of the largest and most successful hedge funds in the world, and its former partner Daniel Michalow, received significant press attention over the past four years. Contrary to what D. E. Shaw led the public and its investors to believe about the firm’s “investigation” and Daniel’s departure, “the panel specifically finds that Claimant did not commit sexual misconduct.” The panel also found the members of D...