The Lawrence Rosenbloom Charitable Remainder Trust v. Oppenhimer & Co. - $434,000 Award
In May, 2015, a FINRA arbitration panel awarded $308,000 in compensatory damages plus $102,000 in attorney's fees and a full recovery of $24,000 in expert witness fees to the Claimants. This case involved a Charitable Remainder Trust (CRT) that was heavily margined. Dr. O'Neal testified on behalf of the claimant that the use of margin in a CRT cannot be suitable or prudent because of the 100% federal excise tax on debt-financed income. Dr. O'Neal also testified on damages.