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SEC Agrees to $755,000 Settlement for Wrongful Discharge

The SEC has agreed to pay $755,000 to settle a wrongful discharge claim brought by former employee Gary J. Aguirre.  Aguirre, an attorney at the SEC, headed an investigation of Pequot Capital Management for insider trading.  After urging management at the SEC to issue a subpoena for Wall Street banker John Mack, Aguirre was discharged.  The $755,000 is for four years and ten months of back pay plus attorney’s fees.  Coincidentally, last month the SEC filed charges against Pequot. 

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