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.

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