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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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Displaying 191-200 out of 219 results

Bouse et al v Wedbush Morgan Securities, Inc. - $3.8 Million CMO Award

In May 2006, an NASD arbitration panel in Los Angeles, CA ordered Wedbush to pay 22 clients of its Newport Beach branch and their attorneys $3.8 Million. Wedbush sold Claimants lower tranche manufactured housing CMOs as good substitutes for bank CDs, suitable for "widows and orphans." Dr. McCann testified that the CMO's were highly speculative and not suitable for risk adverse bond investors. He also testified that this failure to make complete and accurate disclosures was a breach of the fiduciary duty owed to brokerage firm customers.

Yellen et al v Citigroup Global Markets (SSB) - $536,500 Award

In May 2006, an NASD arbitration panel in Tampa, FL ordered Citigroup to pay Barry Yellen and his advisory clients $462,500 in compensatory damages, plus at least $74,000 in prejudgment interest. Dr. McCann testified that Jack Grubman manipulated his valuation methodologies to double his valuation on WorldCom in the face of deteriorating fundamentals at WorldCom.

Stockhausen v Citigroup Global Markets (SSB), Jack Grubman - $452,363 Award

In May 2006, an NASD arbitration panel in Chicago, IL ordered Citigroup to pay Joseph and Karen Stockhausen $325,000 in compensatory damages, $97,500 in attorneys' fees and $29,863.64 in costs. Dr. McCann testified that the exercise and hold strategy for handling non-qualified stock options is almost always unsuitable, that Jack Grubman manipulated his valuation methodologies to double his valuation on WorldCom in the face of deteriorating fundamentals at WorldCom and that the Stockhausens suffered $325,000 in market adjusted losses.

Carruthers v Citigroup Global Markets (SSB) - $900,000 Award

In February 2006, an NASD arbitration panel in Cleveland, OH ordered Citigroup to pay Suzanne and Joseph Carruthers $900,000. The Carruthers had alleged that SSB provided flawed and biased proposals designed to influence them to choose a more risky asset mix than they would have chosen had SSB made a full and balanced proposal. Dr. McCann testified that SSB's Consulting Group investment presentations were incomplete and biased. He also testified that the Carruthers suffered $900,000 in damages measured against a balanced portfolio of 60% stocks and 40% bonds.

Bauer v Raymond James Annuity - $453,210 Award

In October 2005, an NASD arbitration panel in Philadelphia, PA order Raymond James to pay a Claimant $151,070 in out of pocket losses plus $302,140 in punitive damages - plus attorneys' fees, expert witness fees and prejudgment interest over the sale of Equitable and Manulife variable annuities.

AG Edwards Exercise and Hold - $931,000 Award

In May 2005, a Pacific Stock Exchange arbitration panel in San Francisco, CA ordered AG Edwards to pay four Claimants $931,000 plus plus costs over the unsuitable recommendation to exercise employee stock options on margin and to hold the aquired Cisco Systems and JDS Uniphase stock for one year to achieve long-term capital gains tax treatment.

Desrosiers v Robert W. Baird, Inc. - Account Mismanagement $400,000 Award

In April 2005 an NASD Arbitration panel in Tampa, FL ordered Baird to pay Ms. Desrosiers compensatory damages of $400,000 plus interest. Dr. O'Neal testified that the risk of the portfolio was inappropriate for Ms. Desrosiers and that Baird disregarded its own published materials on the importance of asset allocation and understanding risk.

Salomon Smith Barney Exercise & Hold Case - $2.5 Million Award

In March 2005, an NASD arbitration panel in Washington, DC awarded a Claimant $2.5 Million including $500,000 in punitive damages arising out of claims against Salomon Smith Barney over the exercise of non-qualified employee stock options by a former MCI Worldcom employee.

Cox v Bush - $630,000 Asset Allocation Award

In January 2005, an NASD arbitration panel in Washington, DC ordered J. Bush & Co. to pay Claimants $630,000 in damages. Claimant alleged J. Bush & Co. invested their retirement assets in an unsuitably risky manner. Dr. McCann testified on behalf of the Claimants.

Salomon Smith Barney, Spartis & Elias Exercise & Hold Case - $448,000 Award

In January 2005, an NASD arbitration panel in Lexington, KY awarded a Claimant $448,000 arising out of claims against Salomon Smith Barney, Philip Spartis and Amy Elias over the exercise of non-qualified employee stock options by a Worldcom employee.

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