Cell phone video captured the very public firing of an employee by his enraged boss almost four years ago, which is now the subject of a lawsuit.
“Get the f**k out of my firm!” David Glass, the co-founder of merchant cash-advance firm Yellowstone Capital screamed at employee Gregory Stern in a January 17, 2012 incident.
Glass alleged that Stern cost the company $600,000 by accepting kickbacks from clients, according to a lawsuit filed in Manhattan Supreme Court.
If the name David Glass rings a bell, it’s because he was the inspiration behind the 2000 Ben Affleck film “Boiler Room,” according to the New York Post.
The video was captured at a Yellowstone Capital staff meeting, which started out civil, then quickly escalated as Glass focused his attention on Stern.
“When somebody steals from Yellowstone Capital, they hurt all of us. When they embezzle from the company, we all lose, because we try to price every deal here … as aggressively as possible,” Glass evenly said in the video.
But the calm demeanor didn’t last long.
“Greg Stern — get out,” he said, before ramping up the volume. “Get the f**k out of my firm!”
“Get out or I’ll call the cops! Why are you still sitting there, fat ass? Get out of my company!” Glass shouted.
Stern made an attempt to explain things, but Glass interrupted him: “No. You can get the f**k out. Get a lawyer.”
The Post reported:
Glass was busted in 2007 for insider trading. He got probation and went on to found Yellowstone. His rise and fall at day-trading firm Jasper Capital was depicted by Giovanni Ribisi in the 2000 film.
Yellowstone sued Stern for breach of contract, accusing him and his then-girlfriend Nigina Khasidova of running an “unlawful kickback scheme,” court papers say.
Stern countersued for defamation, saying two colleagues posted videos of his humiliating termination online at the behest of Glass.
Stern and Khasidova’s lawyer, Mitchell Shapiro, declined to comment.
A lawyer from Herirck Feinstein, which reps Yellowstone and Glass, said: “The company’s internal investigation revealed that Gregory Stern embezzled monies from Yellowstone Capital. Mr. Stern was immediately terminated and a civil lawsuit commenced seeking damages and the recovery of the stolen monies.”
The first clip is the cell phone video of Glass firing Stern. The second is a trailer for the film “Boiler Room.:
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