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Alderson v. DeVere USA Inc.

Claims Over Firm's Payment of Investigation, Litigation Defense Fees Must Be Arbitrated

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OPINION & ORDER Benjamin Alderson (“Alderson” or “Plaintiff”) brings a Motion for Preliminary Injunction requiring Defendant deVere USA, Inc. (“deVere” or “Defendant”) to (1) timely pay legal fees Plaintiff has incurred in connection with an SEC investigation of deVere and (2) advance Plaintiff legal fees he will incur in connection with an SEC action against him. In response, Defendant brings a Cross Motion to Compel Arbitration and Stay the Proceedings (the “Cross Motion”). For the reasons below, Defendant’s Cross Motion is granted. Plaintiff’s motion is denied as moot.I. BackgroundA. Factual BackgroundThe following facts and allegations are taken from the complaint. Plaintiff, an experienced investment advisor, is a citizen and resident of the United Kingdom. (Compl.

4, 10.) Defendant is a Florida corporation with principal place of business in New York City. (Id.5.) Defendant, along with its affiliates and parent company, provides international financial consulting services to expatriate clients and investors worldwide. (Id.10.)By an agreement dated November 13, 2012 (the “Employment Agreement”), deVere hired Alderson as “Senior Area Manager.” (Id.10.) Plaintiff argues that the Employment Agreement contains language requiring deVere to indemnify and advance Plaintiff attorneys’ fees sustained “by reason of” his service to deVere. (Id.

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