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Our research and testimony frequently result in awards, decisions and orders. See what our experts have been working on.

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Puglisi v Citigroup - $750,000 MAT Five Award

In November 2011, a FINRA arbitration panel in Newark, NJ ordered Citigroup to pay Claimant $706,759 plus pre-judgment interest over the sale of Citigroup's MAT Five leveraged municipal bond hedge fund. The award was made after a hearing wherein the Claimant alleged that Respondent breached contractual and fiduciary duties and misrepresented the hedge fund. Dr. McCann testified on behalf of the Claimant.

Pelican Holdings et al v Morgan Keegan - $889,340 (MKIBX, RMA) Award

In November 2011, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay Claimants $889,340 in connection with Morgan Keegan's sale of the RMK Select Intermediate Fund (MKIBX) and the RMK Advantage Income Fund (RMA). Dr. O'Neal testified on behalf of Claimants.

Beattie v Merrill Lynch - $230,000 Annuity Award

In November 2011 a FINRA arbitration panel in Orlando awarded Claimant $230,000 in compensatory damages arising from an exchange of variable annuity contracts recommended by Respondent. Mr. Meyer testified about the suitability issues attendant to annuity purchases and switches.

Lett et al v Wells Fargo Advisors, LLC - $130,000 Suitability Award

In November 2011 a FINRA panel in Atlanta awarded Claimant compensatory damages of $130,000. Mr. Meyer testified about the excessive risk in the Claimant's securities, resulting in an unsuitable portfolio. In an explained award, the panel stated that "in choosing high-return securities for the account, with their attendant risk," Respondent Wells Fargo Advisors recommended an "unsuitable investment portfolio" to Claimant.

Estate of Margaret Cwirko v Morgan Stanley $241,344 Award

In October 2011 a FINRA panel in New Jersey awarded Claimant $241,344 in compensatory damages resulting from the embezzlement of funds from her brokerage account by Claimant's son-in-law. Mr. Meyer testified about a broker-dealer's supervisory duty to review customer accounts for "red flags" or indications of possible wrongdoing, and respond promptly and appropriately.

Christian Brothers University v Morgan Keegan - $500,000 (MKHIX) Award

In September 2011, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay the Christian Brothers University Endowment Fund $432,061 plus interest in connection with Morgan Keegan's sale of the RMK Select High Income Fund (MKHIX). Dr. O'Neal testified on behalf of the Christian Brothers University.

Young v Deutsche Park Securities - $1 Million Aravali Fund Award

In August 2011, a FINRA arbitration panel in Philadelphi, PA ordered Deutsche Park Securities to pay Claimant at least $955,000 including interest over the sale of the Aravali leveraged municipal bond hedge fund. The award was made after a hearing wherein the Claimant alleged that Respondent breached contractual and fiduciary duties and misrepresented the hedge funds. Dr. McCann testified on behalf of the Claimant.

Precaspian Development Corporation v Todd Ficeto and Hunter World Markets - $6.2 Million Award

In August 2011 a California Superior Court jury in Los Angeles awarded the Plaintiff $1.2 Million in compensatory damages and $4 Million in punitive damages. On behalf of the Plaintiff, Mr. Meyer testified about various techniques Defendants used to manipulate prices of certain microcap stocks held in hedge funds owned by the Plaintiff. Mr. Meyer also testified about the harmful effects of stock price manipulation on the financial markets.

Robb et al v Neuberger Berman - $5,537,000 Lehman Structured Products & Hedge Fund Award

In July 2011, a FINRA arbitration panel in Chicago, IL ordered Neuberger Berman to pay $5,052,500 in compensatory damages and costs plus approximately $484,500 in interest. The award was made after a hearing wherein the Claimants alleged Respondents engaged in "a general fraudulent scheme to target investors, especially high net worth individuals to raise funds for Lehman Brothers Holdings and Lehman Brothers, Inc. under the guise of principal protected notes." The claims related to the...

Croce v UBS Financial Services - $1,770,000 UBS & Lehman Structured Products Award

In June 2011, a FINRA arbitration panel in Philadelphia, PA ordered UBS Financial Services Inc. to pay $1,520,000 in damages plus approximately $250,000 in interest. The award was made after a hearing wherein the Claimant alleged Respondents breached contractual and fiduciary duties and failed to suitably invest Claimant's account. The claims related to the purchase of a Lehman Brothers issued "100% Principal Protection Notes Linked to Year-Over-Year Change in the Consumer Price Index." Dr....

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