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Displaying 21-25 out of 25 results

Brezden et al v Associated Securities - $8.9 Million Hedge Fund Award

In March 2009, a FINRA Dispute Resolution panel, in an explained decision, awarded $8.9 Million to a group of Claimants who invested in an speculative options trading vehicle called APEX Equity Options Fund, LP. The panel concluded that the broker, who was also a registered investment advisor, deliberately misled these customers by telling them Apex was a safe, income-producing security. In fact, the fund was very risky, and the Claimants lost their entire investment. The panel also found the broker's employer, Associated Securities Corp., independently liable for its failure to supervise the broker. On behalf of the Claimants, Mr. Meyer testified about a firm's duties to supervise.

Willingham et al v Morgan Keegan - $187,215 (RHY, MKIBX) Award

In March 2009, a FINRA arbitration panel in Birmingham, AL ordered Morgan Keegan to pay $187,215 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 Multi-Sector High Income Fund (RHY) and RMK Select Intermediate Bond Fund. Dr. McCann testified on behalf of the Claimants.

Muhlbauer v Morgan Keegan - $125,000 (RHY, RSF, RMA) Award

In March 2009, a FINRA arbitration panel in Memphis, TN ordered Morgan Keegan to pay $125,000 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 Multi-Sector High Income Fund (RHY), RMK Strategic Income Fund (RSF) and RMK Advantage Income (RMA). Dr. O'Neal testified on behalf of the Claimant.

McCarver v Morgan Keegan - $100,000 (RMH, RHY, RSF, RMA, MKHIX) Award

In February 2009, a FINRA arbitration panel in Tampa, FL ordered Morgan Keegan to pay $100,000 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 High Income Fund (RMH), RMK Multi-Sector High Income Fund (RHY), RMK Strategic Income Fund (RSF), RMK Advantage Income (RMA) and RMK Select High Income (MKHIX). Dr. McCann testified on behalf of the Claimant.

Misha v Stone & Youngberg - $250,000 Leveraged Municipal Bond Arbitrage Award

In January 2009, a FINRA arbitration panel in San Francisco, CA ordered Stone & Youngberg to pay $250,000 in damages after a hearing wherein the Claimants alleged Respondents breached contractual and fiduciary duties and negligently misrepresented a leveraged municipal bond arbitrage strategy. Dr. McCann testified on behalf of the Claimants.

25 Results

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