The Court of Appeal for Ontario has upheld a lower court ruling which found that a proprietary securities trader was constructively dismissed by Toronto-based investment dealer Hampton Securities Ltd.
Hampton sought to overturn the Ontario Superior Court of Justice’s decision that prop trader Christina Dean was entitled to about $113,000 in lost salary and damages, along with almost $250,000 in costs, after she was effectively dismissed by the dealer in 2009.
According to the appeal court’s decision, Hampton sued Dean, seeking repayment of alleged trading losses; she countersued claiming constructive dismissal and defamation. The lower court judge found in favour of Dean, ruling that she didn’t owe Hampton any money and “that she was constructively dismissed and was entitled to six months’ notice in lieu of salary,” along with damages for defamation, punitive damages and costs.
Hampton subsequently appealed the lower court’s findings, and the costs award.
However, the appeal court found that the dealer’s arguments “are entirely without merit,” and there was “no error in the trial judge’s conclusion that Ms. Dean was constructively dismissed and was entitled to six-months’ notice.”
The appeal court also upheld the lower court’s conclusion that Dean was entitled to additional damages and the costs award.
“Ms. Dean made repeated generous offers to settle the case that were rebuffed or ignored by Hampton. It is clear that Hampton took a hardline, no compromise position in this litigation. That is a tactic that comes with costs consequences; it does not fall to this court to relieve Hampton from those consequences,” the appeal court stated in its ruling.