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Rating:Will Janus Fork Over Almost $5 Million to an Ex-Employee? Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 11, 2009

Will Janus Fork Over Almost $5 Million to an Ex-Employee?

by: Neil Anderson, Managing Editor

Edward Keeley just won the first round in his lawsuit against Janus. Reuters' Jui Chakravorty reports that on Friday a Denver jury ruled in favor of the ex-Janus portfolio manager in his compensation lawsuit, ordering the Denver-based fund firm to pay up roughly $4.8 million (in addition to the $2.2 million in stock and stock-option grants Janus already paid Keeley as severance. But is the fight over yet?

A spokesman for Janus told Reuters that the firm hasn't decided yet on whether or not to appeal.

"We are disappointed with the outcome of the trial," the spokesman stated. "At the center of this suit was an attempt by Ed Keeley to renegotiate his severance agreement retroactively through the court."

Keeley, who left Janus in May 2007, first filed suit on July 31 of that year (see MFWire, 8/23/2007, 8/24/2007, 2/13/2009, 5/5/2009 and 5/7/2009). 

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