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Appeals court weighs wage-act claim and contract dispute in Chandra v. Caprio
Summary
Arguments focused on whether a side-letter agreement created fixed wages that were unlawfully reduced (a Wage Act violation) versus a prospective reduction or breach of contract; counsel also disputed whether a $150,000 payment was a loan or compensatory income.
The appeals panel heard argument in 24p435, a business dispute arising from a side-letter agreement among principals of an investment firm. Appellants (the firm principals) were represented by Jason Morgan; Amit Chandra’s counsel, Nick Nezgos, argued for affirming the trial court’s findings that Chandra’s statutory Wage Act claim succeeded and that the side letter created a compensatory obligation.
Morgan argued the reduction of Chandra’s compensation was a lawful prospective reduction of pay implemented consistently with the side letter’s structure and not a Wage Act violation. Morgan emphasized that the side letter’s compensation was discretionary and contingent on…
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