Zeigon v First Republic - $870,631 TW Tax Advantaged Fund Award
In March 2012, a FINRA arbitration panel in San Francisco, CA ordered First Republic Securities to pay the Claimants $870,631 over the sale of a collateralized bond obligation (CBO) and the TW Tax Advantaged Fund LLC leveraged municipal bond arbitrage hedge fund. The panel dismissed claims on two of three CBOs based on FINRA's six-year eligibility rule and awarded the Claimant's 75% of the remaining out-of-pocket losses. Mr. Meyer testified about compliance and sales practices on behalf of the Claimants. Dr. McCann testified about the investments on behalf of the Claimants.