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August 17, 2012

FINRA Awards UPDATE: ARBchek (UA 2012-31)

On behalf of Thomas Costello of Costello Law Group

UA edition 2012-31 contains 27 awards. To view all of this week’s Awards click here.

Selected Awards of Interest in UA edition 2012-31:
Little v. Stevens, FINRA ID # 11-00086 (Birmingham, AL, 7/30/2012) – Liability regarding a cattle call of Respondents is narrowed to a few, against whom the Panel awards $585,000 in compensatory damages and punitive damages of $250,000.

C&H Properties v. Morgan Keegan, FINRA ID # 11-00263 (Jackson, MS, 7/30/2012) – From the frying pan of class actions into the fire of arbitration, Claimants moved their case but lost their cause in a proceeding begun by three Arbitrators, with an Explained Award written by two, and a decision ultimately delivered by one.

Alena v. Morgan Stanley, FINRA ID # 11-02923 (Seattle, WA, 8/2/2012) – Procedural twists concerning prior bankruptcy proceedings, a host of Claimants, and millions in claimed losses from sour real estate deals provide the setting for this “selling away” dispute.
Securities Arbitration Commentator (SAC) is a licensed distributor of FINRA awards. SAC’s Award Database, ARBchek, supplies standardized reports on an Arbitrator’s Award history and supplies copies of the actual Awards.