US Airways v Hansalik, et al - $15 million ARS Award

In May 2011, a FINRA arbitration panel in New York, NY ordered three former Lehman Brothers' employees to pay US Airways $15 million over the sale of Asset-Backed Capital Commitment Securities (ABCs), Committed Preferred Custodial Trust Securities (CPS) and Regulation XXX surplus notes backed auction rate securities. The award was made after a hearing wherein the US Airways alleged that Respondents failed to supervise, breached contractual and fiduciary duties and misrepresented the ARS. Dr. McCann testified on behalf of the Claimants.

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Craig J. McCann