trending Market Intelligence /marketintelligence/en/news-insights/trending/bOg1txhMk4AdeFCK7N0rAQ2 content esgSubNav
In This List

Meridian Bank settles ex-employees' suit


S&P Capital IQ Pro | Powering Your Edge


Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter


S&P Capital IQ Pro | Unrivaled Sector Coverage


Banking Essentials Newsletter: September Edition

Meridian Bank settles ex-employees' suit

Malvern, Pa.-based Meridian Bank has settled two former employees' lawsuit alleging breach of contract.

The plaintiffs, who used to work in Meridian's mortgage-banking unit, had sought unpaid commissions and liquidated damages totaling $325,000, plus reimbursement for legal fees. Meridian's settlement was for $137,000, plus legal expenses of up to $50,000, with the latter amount covered by insurance.

The case is Weissenberg et al. v. Meridian Bank, and the suit was filed Oct. 31 in the Philadelphia Court of Common Pleas.