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Lincoln Financial Fired Lesnik After His Wells Fargo Bankruptcy Now He Names Price Off the Record

By Matthew Russell Lee, Exclusive Patreon
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SDNY COURTHOUSE, Feb 28 -- Jeffrey Lesnik was a stock broker working for Lincoln Financial Advisors Corporation when they fired him in November 2017, he says because he had filed a bankruptcy petition due to misdeeds by Wells Fargo.  

Jump-cut to February 28, 2020, when Lesnik's lawsuit against Lincoln Financial, reassigned to Judge Lewis J. Liman, still relatively new in the U.S. District Court for the Southern District of New York, came up for a status conference. 

  Lesnick's lawyer Seamus P. Barrett of the Derek Smith Law Group PLLC said he too might file a motion for summary judgment. Judge Liman said, if you want to spend your client's money that way.

   Barrett replied, We work on a pure contingency fee basis, so we only file a motion if we think we will prevail.

  Judge Liman replied that whether counsel before him are paid by the hour or on contingency, he presumes they have a basis for the motions they file, under Rule 11, until he's shown differently.

  Barrett brought up the possibility of Judge Liman referring the case to a Magistriate Judge for settlement talks. Judge Liman, with Inner City Press openly in the otherwise empty gallery, asked the parties if they agreed to have the court reporter stop transcribing. They did. 

 Lincoln Financial's lawyer said her client is willing to negotiate but that Plaintiff is asking for too much. Then she named the figure, which for now we omit in this format. More on Patreon here.  

 Barrett replied that his client would never again be able to make the $200,000 to $300,000 a year he had been making at Lincoln Financial, and so a multi-million dollar settlement would not be unreasonable.

  But Lincoln Financial's lawyer was implacable. Judge Liman went back on the record and said he will not be referring the case for mediation, or to a Magistrate Judge. He set a trial date of May 4, 2020. The case is Leznik v. Lincoln Financial, 18-cv-3656 (Liman). 


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