Reuters, October 23, 2012 - Appeals court reinstates Morgan Keegan ruling

"The U.S. Court of Appeals for the 5th Circuit ruled that a district court's decision to throw out the arbitration award was made in error, according to an opinion released on Tuesday.

U.S. District Court Lynn Hughes in Houston ruled in September, 2011, that the arbitration ruling should be thrown out because, in part, it was obtained through the alleged 'fraudulent' testimony of Craig McCann, an expert witness and former U.S. Securities and Exchange Commission economist.

The federal appeals panel, however, noted that there was a 'total absence of any evidence' to support that finding. The evidence 'supports nothing more than a conclusion that a member of Dr. McCann's staff made a calculation error that he did not discover until after he testified,' the court wrote.

..." For the full Reuters story click here.

Craig J. McCann