AltaCorp Capital Seeks to Stop Ex-Worker’s FINRA Arbitration

AltaCorp Capital Inc. asked for a permanent halt to a former employee’s bid for arbitration of his termination-related defamation and contract claims through an industry regulatory group, according to a New York federal district court complaint.

AltaCorp shouldn’t be subject to Financial Industry Regulatory Authority arbitration proceedings because the Canadian investment firm was never a member of the self-regulatory organization, the complaint filed Tuesday in the U.S. District Court for the Southern District of New York said.

The firm employed John C.T. Cloghesy in its Calgary, Alberta, headquarters for about a year and a half. Cloghesy registered with FINRA in ...