A Wall Street bond trader turned on the television one day and saw a news report accusing him of committing a large securities scam. This trader learned that his employer had accused him of creating $300 million of phony profits and, as a result, getting bogus bonuses of $8 million. He claimed he was innocent, and it took about three years for him to prove his innocence. In the months that followed the accusations, he was investigated by the SEC, the National Association of Securities Dealers, and the Justice Department. Three years later, the bond trader was cleared of all major charges brought against him. Required:
a. Assume that you are the employer. What type of legal action would you seek against this bond trader? Why?
b. To what type of court would your case most likely be assigned? Why?