Results

Our research and testimony frequently result in awards, decisions and orders. See what our experts have been working on.

Displaying 11-20 out of 25 results

Bach v Citigroup - $250,000 MAT V Award

In August 2009, a FINRA arbitration panel in Miami, FL ordered Citigroup to pay $250,000 in damages after a hearing wherein the Claimant alleged that Respondents breached contractual and fiduciary duties and negligently misrepresented MAT V, a leveraged municipal bond arbitrage fund. Dr. McCann testified on behalf of the Claimant.

Ross v Charles Schwab - $173,498 YieldPlus (SWYSX) Award

In July 2009, a FINRA arbitration panel in San Diego, CA ordered Charles Schwab to pay the Claimant $173,498 including $16,000 in expert witness fees. The award was made after a hearing wherein the Claimant alleged that Schwab misrepresented its YieldPlus (SWYSX) bond fund as a low risk alternative to a money market fund for cash holdings. Dr. McCann testified on behalf of the Claimant that the YieldPlus fund was much riskier than money market funds, that its portfolio was dominated by illiquid private-label mortgage backed securities containing considerable credit risk and that Schwab apparently overstated the fund's NAV in late 2007 and early 2008.

Lanfear v Global Crown Capital - $1,688,000 Award

In July 2009, a FINRA arbitration panel in San Francisco, CA ordered Global Crown Capital and its principal to pay the Claimant $1,688,000. The award was made after a hearing wherein the Claimant alleged that Global Crown churned Claimant's securities accounts and a sham hedge fund offered as Cogent Hedge Fund in which the Claimant was the primary investor. Dr. McCann testified on behalf of the Claimant that the securities accounts and the hedge fund was churned and that the Claimant thereby suffered at least $1.7 Million in damages.

United Prison Ministries v Morgan Keegan - $220,000 (MKHIX) Award

In June 2009, a FINRA arbitration panel in Birmingham, AL ordered Morgan Keegan to pay $220,000 in damages including $20,000 in expert witness fees. The award was made after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, violated the Alabama Securities Act, failed to suitably invest Claimants' accounts, and failed to supervise Claimants' accounts. The claims related to Claimants' investments in the RMK Select High Income Fund (MKHIX). Dr. O'Neal testified on behalf of the Claimant.

Klosky v Morgan Keegan - $134,000 (RMH, RSF, RMA, RHY, MKHIX, MKIBX) Award

In June 2009, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay $134,000 in damages after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, violated Tennessee Blue Sky Laws and the Tennessee Consumer Protection Act and committed common law fraud and misrepresentation. The claims related to Claimants' investments in the RMK Intermediate Bond Fund (MKIBX). Dr. O'Neal testified on behalf of the Claimant.

Richardson v Morgan Keegan - $431,000 (MKHIX, MKIBX) Award

In June 2009, a FINRA arbitration panel in Boca Raton, FL ordered Morgan Keegan to pay $431,000 in damages after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, failed to suitably diversify Claimants' accounts and failed to supervise Claimants' accounts in the Claimants' investments in RMK Select High Income Fund (MKHIX) and RMK Select Intermediate Bond Fund. Dr. McCann testified on behalf of the Claimants.

Velez v Morgan Keegan- $75,000 RMH, RHY, RSF, RMA Award

In May 2009, a FINRA arbitration panel in Little Rock, AR ordered Morgan Keegan to pay $75,000 in damages after a hearing wherein the Claimants alleged Morgan Keegan breached contractual and fiduciary duties, failed to suitably diversify Claimants' accounts and failed to supervise Claimants' accounts in the Claimants' investments in RMK High Income Fund (RMH), RMK Multi-Sector High Income Fund (RHY), RMK Strategic Income Fund (RSF), RMK Advantage Income (RMA). Dr. McCann testified on behalf of the Claimants.

CASE Credit Union v Prudential - $1,028,443 Interest-Only CMO Award

In May 2009, a FINRA arbitration panel in Detroit, MI ordered Prudential to pay $1,028,443 in damages and interest after a hearing wherein the Claimant alleged Respondents sold the Claimant an unsuitable, overpriced Interest-Only CMO strip. Dr. McCann testified on behalf of the Claimants.

Humphries v Morgan Keegan- $285,222 (MKIBX) Award

In May 2009, a FINRA arbitration panel in Jackson, MS ordered Morgan Keegan to pay $285,222 in damages, interest and attorneys' fees after a hearing wherein the Claimants alleged Respondents misrepresented the RMK Select Intermediate Bond Fund (MKIBX). Dr. McCann testified on behalf of the Claimants.

Ackerman, et al v Morgan Keegan - $81,169 (MKHIX) Award

In April 2009, a FINRA arbitration panel in Birmingham, AL ordered Morgan Keegan to pay $81,169 in damages and interest after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties, failed to suitably diversify Claimants' accounts and failed to supervise Claimants' accounts in the Claimants' investments in Regions MK Select High Income Fund (MKHIX). Dr. McCann testified on behalf of the Claimants.

25 Results

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