An NASD arbitration panel has ordered AllianceBernstein to pay a former top salesman $3.1 million, upholding his lawsuit against the firm for having been fired for his part in the firm’s mutual fund timing scandal, The Wall Street Journal reports. Charles Schaffran said the company defamed him.

The reward includes $2.7 million for defamation and $400,000 in back pay, and is one of the largest NASD has ever granted.

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