Thursday, March 5, 2020

$750,000 Burch v Huntleigh Securities Corporation Option Award.

In March 2020, a FINRA arbitration panel in St. Louis, MO ordered Huntleigh Securities Corporation to pay the Claimant $750,000 including $200,000 in punitive damages and $250,000 in attorney's fees. You can read the award here. Dr. McCann testified that the securities portfolio was poorly diversified and the heavy use of short call options in the portfolio substantially increased the risk beyond what was appropriate for the Claimant.




Wednesday, January 29, 2020

$455,000 Abdallah v FMSBonds Puerto Rico Bond Award

In January 2020, a FINRA arbitration panel in Boston, MA ordered FMSBonds to pay $455,000 including $80,000 in attorneys’ fees. You can read the award here. Dr. McCann testified on liability and damages over Puerto Rico municipal bonds.




Tuesday, January 21, 2020

$2 million Pagan v Merrill Lynch Puerto Rico Award

In January 2020, a FINRA arbitration panel in San Juan, PR ordered Merrill Lynch to pay Claimants at least $2,022,071 in compensatory damages, interest and costs including expert costs. You can read the award here. Dr. O'Neal testified on liability and damages over Merrill Lynch's sale of UBS Puerto Rico municipal closed end bond funds and Puerto Rican municipal bonds.

Tuesday, January 7, 2020

$2.6 million National Planning Corporation Non-traded REIT and Variable Annuity Award

In January 2020, a FINRA panel in St. Louis, MO ordered National Planning Corporation to pay $2,629,273 in well managed account damages, punitive damages and costs. You can read the award here. Dr. McCann testified on liability and damages over NPC's sale of non-traded REITs and variable annuities.