March 20, 2009 – Washington, DC  – Air Force reservist Michael Serricchio has won a lawsuit against former employer Wachovia Securities for discrimination based on his military service. Awarded just under $1 million, Serricchio won his suit based upon violations made by Wachovia under the Uniformed Employment and Reemployment Rights Act (USERRA).

Serricchio worked as a financial advisor for Prudential Securities before being called to active duty following the terrorist attacks of September 11, 2001. He served two years and upon returning in 2003, Prudential had been sold to Wachovia, he was being offered a reduced position, his accounts were gone, and was told he’d have to rebuild his client base.

USERRA protects individuals who, voluntarily or involuntarily, leave their civilian employment positions to perform military duties and applies to all employers, including federal agencies, state and local governments, and private employers, regardless of size. Serricchio made a timely application for reemployment with Wachovia, which was the successor in interest to Prudential Securities, and met the five eligibility criteria for reemployment under USERRA.

“More than 700,000 National Guard and Reserve members have been called to active duty since the terrorist attacks, including some who have been called two, three, or even four times, “said Samuel F. Wright, an attorney who regularly assists military personnel with their employment rights and one of the principal drafters of USERRA. “This law is important and relevant, now more than ever.”

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