Soost v. Merrill Lynch Canada Inc.
Alberta Court of Queen's Bench, 2009
Facts:
The plaintiff Soost was summarily dismissed from his position as
a financial advisor by the defendant Merrill Lynch Canada Inc.
Three years prior the plaintiff had received a generous package of
inducements to commence employment with the defendant, and the
value of his book of business that he transferred to the defendant
was between $70 and $80 million.
The plaintiff's employment contract specified that he was
expected to comply with all relevant regulatory authorities in
addition to the defendant's policies. The defendant alleged,
amongst other things, that the plaintiff's failure to obtain
management approval for his private placement activities and
continued solicitation of a stock contrary to the defendant's
direction constituted just cause for dismissal. The plaintiff
alleged that the defendant's private placement policy had never
been strictly adhered to within the company
