Ex-Cantor Trader Sues Firm for $17 Million He Says He’s Owed

Cantor Fitzgerald LP was sued by a former trader who accused the firm of using overly broad non-compete restrictions to wrongfully withhold about $17 million in partnership payments after his departure, the second such suit in recent months.

Christopher Cercy’s lawsuit was unsealed Tuesday in Delaware Chancery Court suit. Cercy was a bond trader at Cantor for more than 17 years and was a managing director when he was forced out in June, according to the suit.

The non-compete provisions wrongfully “restrict and restrain fair and lawful competition,” Cercy’s lawyers wrote in the 20-page complaint.

Karen Laureano-Rikardsen, a ...