Compliance » NLRB Targets Wall Street NDAs

NLRB Targets Wall Street NDAs

October 19, 2016

Non disclosure agreement with lock and pen

The National Labor Relations Board is challenging employee contracts at Bridgewater Associates, the world’s biggest hedge fund firm, specifically the longstanding practices of confidentiality agreements, non-disparagement clauses and compulsory arbitration. After a former Bridgewater employee filed a sexual harassment complaint, the NLRB jumpstarted an administrative action against the firm, saying it “has been interfering, restraining, and coercing” employees from exercising their rights. The labor board and Bridgewater are discussing a settlement, the conditions of which could mean big changes in the industry. “I would say it is a watershed event,” Richard Rabin, a partner in the labor and employment group at Akin Gump Strauss Hauer & Feld, told the New York Times. Bridgewater issued a statement saying, “We spent decades building our intellectual property and have policies to protect it that are legal, consistent with industry standards and with the agreement of the people who are affected by them.”

Read full article at:

Daily Updates

Sign up for our free daily newsletter for the latest news and business legal developments.

Scroll to Top