Sacked French trader will not sue employers

TRADER Jerome Kerviel, who allegedly cost Societe Generale bank €4.9 billion with unauthorised activities, has not begun a wrongful dismissal claim, a source close to him said yesterday.

“To say that Mr Kerviel is prepared to begin a case is going a bit far,” the source said in response to a press report.

The Times newspaper of London had reported yesterday that Mr Kerviel was prepared to lay a claim for wrongful dismissal, arguing that the bank had not demonstrated that he had done something wrong.