In the case of a general counsel who was found to have committed legal malpractice and fraud, the New Jersey Supreme Court has ruled that an employer may be allowed to seek disgorgement of compensation from an employee who breaches the duty of loyalty, even if that breach did not result in economic harm to the employer.
The court’s unanimous Sept. 22 ruling means that the plaintiff in a closely watched case, Bruce Kaye, the chief executive officer of Flagship Resort Condominiums, can recoup at least $1 million in salary from Alan Rosefielde, a New York tax attorney who served as both general counsel and chief operating officer for the company.
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