Giacomodonato v. PearTree Securities Inc.

Background:

• Giacomodonato was wrongfully dismissed by PearTree in January 2018.
• The trial court awarded him $671,765 in compensatory and punitive damages, plus $830,761.75 in partial indemnity costs.
• Giacomodonato appealed the damages calculation, while PearTree cross-appealed the costs award.

Appeal Findings:

• Main Issue: Giacomodonato argued that damages should be calculated based on his first employment contract, not the second.
• Court's Decision: The trial judge did not err in validating the second contract as binding, which included fresh consideration—a $40,000 payment and two additional weeks of paid vacation.
• Fresh Consideration: Recognized as valid due to:
  • Payment to cover severance costs from his previous employer.
  • Additional vacation time.
• Power Imbalance: The trial judge considered but found it mitigated by Giacomodonato's negotiation experience and representation by counsel.

Additional Arguments:

• Giacomodonato raised an unpleaded issue regarding the termination clause's consistency with the Employment Standards Act, which the court declined to consider.

Cross-Appeal Findings:

• PearTree's Grounds: Argued the costs award was based on errors and was overly discretionary.
• Court's Decision: The trial judge's costs award was upheld due to:
  • PearTree's conduct increased litigation costs.
  • Its counterclaim was meritless.
  • The trial judge found PearTree's litigation strategy aggressive and unfounded.

Conclusion:

• Giacomodonato’s Appeal: Dismissed with $30,000 in costs awarded to PearTree.
• PearTree’s Cross-Appeal: Motion for leave to appeal dismissed with $15,000 in costs awarded to Giacomodonato.