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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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$600,000 Matus v UBS of Puerto Rico Award

In February 2017, a FINRA arbitration panel in Aventura, FL ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $339,000 in compensatory damages, $24,500 in expert witness costs, at least $111,870 in interest plus attorney's fees to be determined by a court pursuant to FL Statute 517. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.

$25 Million Gomez v UBS of Puerto Rico Award

In January 2017, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay at least $18,215,000 in compensatory damages, punitive damages, attorneys' fees and expert witness costs. It also denied the Respondents' Counterclaim to recover a large debit balance. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal bond closed end funds.

$2 Million Interactive Brokers VXX ETN Award

In January 2017, a FINRA arbitration panel in Richmond, VA ordered Interactive Brokers to pay at least $1,930,000 in compensatory damages, debt cancellation and attorney's fees. Dr. McCann testified on liability - specifically on whether VXX ETNs and options on VXX ETNs were eligible for portfolio margin - and damages.

$1 Million Bien v Mid Atlantic Capital non-traded REIT Award

In December 2016, a FINRA arbitration panel in Denver, CO ordered Mid Atlantic Capital Group to pay at least $1,037,000 in compensatory damages, interest, attorney's fees and expert witness costs. Dr. McCann testified on liability and damages over Mid Atlantic's sale of a non-traded KBS REIT and illiquid loan fund, Sonoma Ridge Partners.

$740,000 Condado Motors v UBS of Puerto Rico Award

In November 2016, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $611,251 in compensatory damages and costs. In addition, the panel ordered UBS to buy back 17,040 shares of Fixed Income Fund III at $9.70 or make up the difference from the sales proceeds if the Claimant has sold these shares, potentially adding another $130,000 to the award given an approximate $2 per share current value. Dr. O'Neal testified on liability over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.

$958,000 Ciordia-Robles v UBS of Puerto Rico Award

In November 2016, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $958,000 in compensatory damages, attorney's fees and expert witness costs. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.

Padilla et al v Royal Alliance - $1.1 Million non-traded REIT, Annuity Award

In October 2016, a FINRA arbitration panel in San Francisco, CA ordered Royal Alliance Associates to pay $1,105,000 in compensatory. Dr. McCann testified on liability and damages over Royal Alliance's sale of non-traded REITs (Inland American REIT, Inland Western REIT and Dividend Capital Diversified Realty Trust) and variable annuities to the Claimants for their retirement portfolios.

Dr. McCann's "Fiduciary Duties and Non-traded REITs" and SLCG's blog posts on non-traded REITs can be found on our website.

$750,000 Rivera-Rivera v UBS of Puerto Rico Award

In September 2016, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $750,000 in compensatory damages. Dr. O'Neal testified on liability over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.

Rovner v Oppenheimer - $115,000 Churning Award

In August 2016, a FINRA arbitration panel in Philadelphia, PA ordered Oppenheimer & Co. to pay $115,000 in compensatory damages after a hearing wherein the Claimant alleged Respondents churned the Claimant's accounts. Dr. McCann testified to the churning and damages on behalf of the Claimant.

Zabara v FMS Bonds $218,600 Puerto Rican Bond Award

In August 2016, a FINRA panel in Boca Raton, FL ordered FMS Bonds to pay the Claimant $218,600 in compensatory damages for breach of fiduciary duty, breach of contract and negligent supervision. The subject investments were individual Puerto Rico municipal bonds sold to a U.S. client. Dr. O'Neal testified on portfolio concentration, default risk and suitability of the Puerto Rico muni bonds.

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