The $3 Million Decimal Point
March 23rd, 2012 by JBWK
Bloomberg reports that J.P. Morgan is defending a lawsuit in London over a misplaced decimal. The offending punctuation mistake: offering a mid-level trader an employment agreement (in the South African currency rand) for about $3,100,000, a number the bank says should have been $310,000.
The employee accepted the agreement, but refused to work after realizing J.P. Morgan was only going to pay him 10% of what he anticipated.
He is now unemployed, and has sued the bank for the difference.
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