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Vivek Ramaswamy Sued By Former Employees Claiming His Company Pressured Them Into Violating Securities Laws
Forbes ^ | 8.18.2023 | William Skipworth
Posted on 8/19/2023, 1:15:55 PM by libh8er

....alleges she was fired as co-head of institutional sales because she raised concerns about an executive making aggressive sexual advances toward a lower level staffer at the firm and about securities laws violations.

Rosely also claimed Ramaswamy and Frericks pressured her into using sales materials that promised customers future returns and allowing unregistered employees to make sales pitches to customers, which both constitute securities violations.

Additionally, Rosely allegedly complained about Ramaswamy’s social media posts, which, in her view, amounted to illegal securities sales.

Another lawsuit was filed in June by John Phillips, who said he was lured to Strive Asset Management from his previous JPMorgan job on false promises that the firm had good financing and that Ramaswamy, who promptly quit to run for president, was committed to the company.

Phillips alleged that Ramaswamy misrepresented Strive Asset Management’s finances to employees and investors, and that the company, like it allegedly did to Rosely, pressured him to violate securities laws.

Both employees were fired in March, with Phillips claiming he was fired without cause and Rosely—who was reportedly told she was fired as part of a company reorganization that sought to remove employees over the age of 40—claiming age discrimination in addition to being fired in retaliation for her complaints of misconduct.

(Excerpt) Read more at forbes.com ...