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.

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