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US Airways v Oppenheimer & Co. Inc. - $30 Million ARS Award

In January 2013, a FINRA arbitration panel in New York, NY ordered Oppenheimer to pay US Airways $30 Million as compensation for losses on Camber, Capstan and Pivot credit-linked auction rate securities. The award was made after a hearing wherein the Claimants alleged that Respondents breached fiduciary duties and misrepresented the ARS. Dr. McCann and Mr. Meyer testified on behalf of the Claimants.

Wagner v Wells Fargo - $2.225 Million ARS Award

In May 2012, a FINRA arbitration panel in Los Angeles, CA ordered Wells Fargo to redeem at par $2.225 Million of auction rate securities and to pay Claimants losses on ARS the Claimants had sold at a loss. The award was made after a hearing wherein the Claimants alleged that Respondents breached fiduciary duties and misrepresented the ARS. Mr. Meyer testified on behalf of the Claimants.

Perry v Oppenheimer - $6.1 Million ARS Award

In January 2012, a FINRA arbitration panel in New York, NY ordered Oppenheimer to pay Claimants $6.1 Million including $134,108 in attorneys' fees over the sale of auction rate securities. The award was made after a hearing wherein the Claimants alleged that Respondents failed to supervise, breached contractual and fiduciary duties and misrepresented the ARS. Dr. O'Neal testified on behalf of the Claimants.

US Airways v Hansalik, et al - $15 Million ARS Award

In May 2011, a FINRA arbitration panel in New York, NY ordered three former Lehman Brothers' employees to pay US Airways $15 Million over the sale of Asset-Backed Capital Commitment Securities (ABCs), Committed Preferred Custodial Trust Securities (CPS) and Regulation XXX surplus notes backed auction rate securities. The award was made after a hearing wherein the US Airways alleged that Respondents failed to supervise, breached contractual and fiduciary duties and misrepresented the ARS. Dr. McCann testified on behalf of the Claimants.

Lesmir et al v Wedbush - $3.1 Million Nuveen ARPS ARS Award

In November 2010, a FINRA arbitration panel in Seattle, WA ordered Wedbush Morgan to redeem at par $2,825,000 in auction rate preferred securities plus $2245,865 in attorneys' fees and costs. The award was made after a hearing wherein the Claimants alleged Respondents breached fiduciary duties and committed securities fraud. Dr. McCann testified on behalf of the Claimants.

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