Wednesday, April 8, 2020

District Court Order Confirming $3.4 Million Torres v MSSB Award

In April 2020, the US District Court for the Southern District of Florida confirmed an arbitration award against Morgan Stanley over Puerto Rico municipal bonds. You can read the District Court’s Order here. Previously in July 2019, a FINRA panel in Miami, FL ordered Morgan Stanley to pay $3,231,421 including $3 million in monetary sanctions for discovery abuse. You can read the award here. Dr. McCann testified on liability and damages over Puerto Rico closed end funds and municipal bonds.

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.