Results

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

Displaying 10 out of 139 results

$953,000 Crown Capital Securities Nontraded REITs, Reg D, Oil & Gas DPP and EIA Award

In May 2023, a FINRA panel in San Diego, CA ordered Crown Capital Securities to pay $953,000 in compensatory damages and interest. Craig McCann testified on liability over Crown Capital's sales of nontraded REITs, Reg D REITs, Reg D real estate limited partnerships, oil & gas DPPs, private equity and an equity indexed annuity.

$2,660,000 First Allied Nontraded REIT, Energy DPP & Annuity Award

In March 2022, a FINRA panel in Phoenix, AZ ordered First Allied Securities to pay $2,660,000 in compensatory damages, attorneys' fees and costs. Craig McCann testified on liability and damages over First Allied sales of Ridgewood Energy, Griffin Capital Essential, Griffin-American Healthcare REIT III, ARC Healthcare Trust II, ARC Hospitality Trust, Global Net REIT, Northstar Healthcare, Cole Capital and annuities from Metlife, Midland, Jackson Life and AXA.

$4 Million JPMorgan Foreign Currency / Leverage Award

In December 2021, a FINRA Panel in Houston, TX ordered JP Morgan to pay $4 million in a case involving investments in junk bonds and preferred stocks leveraged through foreign currency transactions. Craig McCann testified on liability and damages behalf of the Claimant.

$900,000 Oriental Financial Services Award

In August 2021, a FINRA arbitration panel in San Juan, Puerto Rico ordered Oriental Financial Services to pay $700,000 in compensatory damages plus approximately $200,000 in interest since the filing of the case. Eddie O'Neal testified on liability and damages over Oriental's recommendation of leveraged Puerto Rican municipal bond funds.

$420,000 Private Placement Real Estate and Equipment Leasing DPP Annuity Award

In February 2021, a FINRA panel in St. Louis, MO ordered Sunset Financial Services to pay $420,000 in compensatory damages, attorneys' fees and costs. Craig McCann testified on liability and damages over Sunset's sales of three private placement real estate products - United Development Funding III, Walton Vista Del Monte and Walton West Palmilla - and two equipment leasing DPPs - LEAF IV and ATEL Growth Capital V.

$20 Million Schottenstein v JPMorgan Structured Products Award

In February 2021, a FINRA Panel in Tampa, FL ordered JP Morgan to pay $18.95 Million plus interest and attorneys fees over the sale of Autocallable reverse convertible structured products to an elderly client. Craig McCann testified on behalf of the Claimants about the material features of the Autocallable reverse convertibles.

US District Court issues Final Judgment in SEC v RPM

In December 2020, the United States District Court for the District of Columbia granted Final Judgement in Securities and Exchange Commission v RPM International, Inc et al, Civ No. 16-1803. The SEC alleged that RPM failed to timely disclose a False Claims Act (FCA) investigation and likely settlement with the Department of Justice (DOJ). Craig McCann submitted two expert reports and provided deposition testimony for the SEC on the stock price impact of RPM's disclosures related to the DOJ FCA investigation. The SEC's Litigation Release and the SEC's Complaint are available on our website.

$12.7 Million Estate Planning Equity Indexed Annuity Order

This month the King County Superior Court, State of Washington ordered CLA to pay $6.2 Million in restitution and $6.5 Million in civil penalties and issued injunctive relief in a case arising out of fraudulent free "estate planning" seminars used in part to gather information from unsophisticated seniors in Washington. Dr. McCann testified on behalf of the Washington Attorney General. The Court's discussion of Mr. McCann's testimony begins at page 29.

11th Circuit Affirms District Court Order Confirming $3.4 Million Puerto Rico Award

In December 2020, the US Court of Appeals for the 11th Circuit affirmed the April 2020 US District Court for the Southern District of Florida Order confirming an arbitration award against Morgan Stanley over Puerto Rico municipal bonds. You can read the District Court's Order on our website. 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 that award on our website. Dr. McCann testified on liability and damages over Puerto Rico closed end funds and municipal bonds.

4th Circuit Court Reinstates $1.5 Million VXX Arbitration Award Against Interactive Brokers

In August 2020, the US 4th Circuit Court of Appeals reversed the US District Court for the Eastern District of Virginia's Order vacating and remanding for hearing before a new arbitration panel a modified arbitration award against Interactive Brokers. Previously in January 2018, a FINRA panel in Richmond, VA ordered Interactive Brokers to pay at least $1,544,843 in compensatory damages and attorneys' fees. You can read the modified award on our website. Dr. McCann testified on liability and damages over Interactive Broker's application of portfolio margin rules to a portfolio of VXX ETNs and options on VXX ETNs.

139 Results

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