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

Displaying 151-160 out of 232 results

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.

Mercer v Morgan Keegan - $444,978 (RSF, RMA, RHY) Award

In November 2010, a FINRA arbitration panel in Orlando, FL ordered Morgan Keegan to pay $444,978 in damages plus attorneys' fees and costs to be determined. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties and committed securities fraud. The panel found Morgan Keegan liable for "breach of fiduciary duty; unsuitability and failure to supervise." The claims related to Claimants' investments in the RMK Strategic Income Fund (RSF), RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

Hagman v Citigroup - $11,558,127 Award

In October 2010 a FINRA arbitration panel in Los Angeles, CA ordered Citigroup to pay a total of $11,558,127, including punitive damages of $10 Million, attorneys' fees, and costs. Claimants alleged breach of fiduciary duty, fraud, and failure to supervise. On behalf of the Claimants, Mr. Meyer testified about the role of asset allocation in making suitable recommendations and the duty to impose heightened supervision on registered representatives with a history of customer complaints.

News Article
- The New York Times, October 9, 2010 - "It's Not Nice to Mess With J.R."

Garrett et al v Morgan Keegan - $9.2 Million (RMH, RSF, RMA, RHY)

In October 2010, a FINRA arbitration panel in Houston, TX ordered Morgan Keegan to pay $9.2 Million in damages including $1.1 Million in attorneys' fees and $78,000 in costs. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, failed to suitably invest Claimants' accounts, and failed to supervise Claimants' accounts. "Claimants alleged that the suit arises out of a fraudulent scheme that induced Claimants to invest substantial retirement and trust funds into high risky closed-end mutual funds, managed by Morgan Keegan, that purchased illiquid mortgage-backed loans and collateralized debt obligations." The panel found Morgan Keegan liable. The claims related to Claimants' investments in the RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

Silk v Citigroup - $1,000,000 MAT Three and MAT Five Award

In August 2010, a FINRA arbitration panel in Los Angeles, CA ordered Citigroup to pay Claimants $1,000,000 over the sale of Citigroup's MAT Three and MAT Five leveraged municipal bond hedge funds. The award was made after a hearing wherein the Claimants alleged that Respondent breached contractual and fiduciary duties and negligently misrepresented MAT Three and MAT Five. Dr. McCann testified on behalf of the Claimants.

East Tennessee Neurology, PC v Morgan Keegan - $484,357 (RMH, RSF, RMA, RHY) Award

In August 2010, a FINRA arbitration panel in Birmingham, AL ordered Morgan Keegan to pay $484,357 in damages including $115,689 in attorneys' fees and $52,413 in costs. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, failed to suitably invest Claimants' accounts, and failed to supervise Claimants' accounts. The panel found Morgan Keegan "liable for unsuitability, negligence and failure to supervise." The claims related to Claimants' investments in the RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

Kazma v Citigroup - $1,817,000 ASTA Three and ASTA Five Award

In August 2010, a FINRA arbitration panel in Boca Raton, FL ordered Citigroup to pay Claimants $1,817,000 over the sale of Citigroup's ASTA Three and ASTA Five leveraged municipal bond hedge funds. The award was made after a hearing wherein the Claimants alleged that Respondent breached contractual and fiduciary duties and negligently managed and misrepresented the ASTA investments. Dr. Prendergast testified on behalf of the Claimants.

Levinthal v First Republic - $2,178,153 TW Tax Advantaged Fund Award

In July 2010, a AAA arbitration panel in San Francisco, CA ordered First Republic to pay the Claimants $2,178,153 over the sale of the TW Tax Advantaged Fund LLC leveraged municipal bond arbitrage hedge fund. The AAA panel found that First Republic was professionally negligent and breached fiduciary duties owed to its customers by failing to perform adequate due diligence in the fund and inadequately training and supervising its brokers. Dr. McCann testified on behalf of the Claimants.

Miller v Citigroup - $489,877 MAT Three Award

In June 2010, a FINRA arbitration panel in Seattle, WA ordered Citigroup to pay Claimants $489,877 including attorney's fees over the sale of Citigroup's MAT Three leveraged municipal bond hedge fund. The award was made after a hearing wherein the Claimants alleged that Respondent breached contractual and fiduciary duties and negligently misrepresented MAT Three. Dr. McCann testified on behalf of the Claimants.

Miniaci v Morgan Keegan - $1,080,000 (MKIBX, RMA, RHY) Award

In June 2010, a FINRA arbitration panel in Ft. Lauderdale, FL ordered Morgan Keegan to pay $1,080,000 in damages. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, failed to suitably invest Claimants' accounts, and failed to supervise Claimants' accounts. The panel found Morgan Keegan "liable for unsuitability, negligence and failure to supervise." The claims related to Claimants' investments in the RMK Select Intermediate Bond Fund (MKIBX), RMK Advantage Income Fund (RMA) and RMK Multi-Sector High Income Fund (RHY). Dr. McCann testified on behalf of the Claimants.

232 Results

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