8 results for 'cat:"Arbitration" AND cat:"Securities"'.
J. Browning denies the former securities firm owner's motion to vacate the arbitration award, ruling that because he and the buyers of the firm were all Financial Industry Regulatory Authority-associated individuals, he agreed to arbitrate any dispute in front of a FINRA arbitrator when he sold the firm. However, the employee's decision to arbitrate with the buyer in a non-FINRA forum supersedes her previous agreement and prevented any award against her; therefore, the FINRA arbitration award is vacated in respect to the employee.
Court: USDC New Mexico, Judge: Browning, Filed On: April 9, 2024, Case #: 1:22cv596, NOS: Arbitration - Other Suits, Categories: arbitration, securities
J. Pechman finds in favor of Oppenheimer & Co. for its complaint seeking to prevent the investors from asserting claims against it in a Financial Industry Regulatory Authority (FINRA) arbitration case, as the investors want to recover funds they lost in a private equity fund called Horizon Private Equity III LLC that an Oppenheimer-registered broker allegedly created and operated for a Ponzi scheme. The Oppenheimer & Co. has no obligation to arbitrate any and all claims that the investors asserted in the underlying FINRA arbitration case because the investors do not present any evidence that the registered broker facilitated the purchase through the trust company.
Court: USDC Western District of Washington, Judge: Pechman, Filed On: April 5, 2024, Case #: 2:23cv67, NOS: Other Statutory Actions - Other Suits, Categories: arbitration, securities
J. D'Auria finds the lower court properly refused to vacate a $57 million arbitration award in favor of an employer. The employee's decision to flee the U.S. and return to his native India after criminal charges were filed allowed for application of the fugitive disentitlement doctrine, especially considering the employee's own actions once he fled to India resulted in his inability to fully participate in the arbitration hearing. Affirmed.
Court: Connecticut Supreme Court, Judge: D'Auria, Filed On: October 16, 2023, Case #: SC20677, Categories: arbitration, securities, Fiduciary Duty
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J. Brimmer denies an investment management firm's motion to vacate an arbitration award in a dispute over advisory services regarding a hedge fund. The firm failed to notify clients its primary location had been moved to Florida, and failed to demonstrate the arbitrator explicitly disregarded securities law in arriving at an award.
Court: USDC Colorado, Judge: Brimmer, Filed On: September 18, 2023, Case #: 1:22cv2892, NOS: Arbitration - Other Suits, Categories: arbitration, securities