Job Elimination / Demotion

Hi,

I was employed as an IT Director for a major financial institution. Approximately 2 1/2 years after taking the position a corporate restructuring occurred and they consolidated my division. Because of this activty they determined my position was not justified at a Director level so mandated I take a pay reduction and accept a demotion to a Asst. Director position. In addition this action did not occur equally across the organization to everyone at my tier level so it was selective in nature and determined by your direct manager. Also they executed some promotions at the same time contradicting their corporate statement that my demotion was based on cost containment. My work history was exemplar and I only received ratings of "exceeds expectaions" while in my role. Because of this treatment I resigned shortly after and left the company. Within six to nine months later they terminated my manger, and another manager that had input to this decision and re-instated my position based on need. Do I have any legel recourse here? Thanks!