DE Shaw is a global investment and technology development firm. Founded in 1988 by David E. Shaw, the company is known to be multinational. DE Shaw is based in New Your City. The global firm has been doing well. That doesn’t go to say that they haven’t had their controversy. In the year 2018, DE Shaw fired the managing director, Daniel Michalow. Allegedly he had been accused of sexually inappropriate conduct with female colleagues. DE Shaw did not hesitate to take action towards the allegations.
The whole ordeal with Daniel Michalow opened a plethora of conspiracy doors. From a questionable hedge fund to risky business going on within DE Shaw. Michalow indeed did create an uproar, threatening to take current DE Shaw employees with him. Along with creating a split within the company, Daniel also that it would be great to air some DE Shaw dirty laundry. The accusations that were thrown on DE Shaw left investors wondering what to believe and what not to believe. Confusion was added in to the already heaping mess. The company has offered a non-compete package for those who want to leave or thinking about it. The fear is that some of the workers are debating about not signing the non-compete contract that was offered to them and siding with Michalow. This has brought doubt to DESCO HQ. Especially since one of the workers taking the accused Daniel Michalow’s side is a woman.
There is a lot of suspicion and speculations on the steps DE Shaw is taking and need to take. Rest to sure further controversial measures are in place to rectify the ongoing issues at hand. DE Shaw stands behind their operation and actions. Only time will tell how this predicament will pay out when it is all said and done with both parties involved.