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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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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. 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.

$750,000 Burch v Huntleigh Securities Corporation Option Award.

In March 2020, a FINRA arbitration panel in St. Louis, MO ordered Huntleigh Securities Corporation to pay the Claimant $750,000 including $200,000 in punitive damages and $250,000 in attorney's fees. Dr. McCann testified that the securities portfolio was poorly diversified and the heavy use of short call options in the portfolio substantially increased the risk beyond what was appropriate for the Claimant.

$455,000 Abdallah v FMSBonds Puerto Rico Bond Award

In January 2020, a FINRA arbitration panel in Boston, MA ordered FMSBonds to pay $455,000 including $80,000 in attorneys' fees. Dr. McCann testified on liability and damages over Puerto Rico municipal bonds.

$2 Million Pagan v Merrill Lynch Puerto Rico Award

In January 2020, a FINRA arbitration panel in San Juan, PR ordered Merrill Lynch to pay Claimants at least $2,022,071 in compensatory damages, interest and costs including expert costs. Dr. O'Neal testified on liability and damages over Merrill Lynch's sale of UBS Puerto Rico municipal closed end bond funds and Puerto Rican municipal bonds.

$2.6 Million National Planning Corporation Non-traded REIT and Variable Annuity Award

In January 2020, a FINRA panel in St. Louis, MO ordered National Planning Corporation to pay $2,629,273 in well managed account damages, punitive damages and costs. Dr. McCann testified on liability and damages over NPC's sale of non-traded REITs and variable annuities.

$5.88 Million Blanco v UBS of Puerto Rico Award

In August 2019, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $4,250,000 in compensatory damages, plus interest of $1,460,937 and costs of $170,000. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS PR closed end funds and individual Puerto Rico municipal bonds.

$3.3 Million Torres v Morgan Stanley Award

In July 2019, a FINRA arbitration panel in Miami, FL ordered Morgan Stanley to pay $3,231,421 including $3 Million in monetary sanctions for discovery abuse. Dr. McCann testified on liability and damages over Puerto Rico closed end funds and municipal bonds.

$4.8 Million Mudafort v UBS Award

In July 2019, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $4,813,161 in capital losses calculated from February 2013 through March 2019 and $67,969 in expert costs. Dr. O'Neal testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds and Puerto Rican municipal bonds.

$8.3 Million Move.Inc v Citigroup ARS Award

In May 2019, a FINRA arbitration panel in Los Angeles, CA ordered Citigroup to pay Move.inc $8.3 Million as compensation for losses on auction rate securities. The award was made after a hearing wherein the Claimants alleged that Respondents breached fiduciary duties and misrepresented the ARS. This fascinating case arose out of events in 2008 and earlier. Craig McCann testified on behalf of the Claimant.

$148,000 Aguayo v Santander Securities Award

In February 2019, a FINRA arbitration panel in San Juan, PR ordered Santander Securities to pay at least $148,000 in compensatory damages, interest and costs. Dr. McCann testified on liability and damages over Santander's sale of Puerto Rico closed end funds and municipal bonds.

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