Murphy v. First Union Capital Markets Corp.

THOMAS, Judge.

Defendants, First Union Capital Markets Corporation (FUCMC), Wheat First Securities, Inc. (WFS), and First Union Corporation (First Union), appeal from a grant of summary judgment on plaintiff’s claim that they improperly withheld part of his bonus.. Plaintiff, Phillip Murphy, appeals from a denial of liquidated damages.

For reasons discussed herein, we reverse and remand.

The relevant facts are as follows: Plaintiff was employed by First Union on 29 March 1993. Between then and when he resigned 21 May 1998, plaintiff worked for First Union or its subsidiaries, FUCMC and WFS.

During…