Claimant’s claim denied and respondent awarded attorney’s fees due to claimant’s bad faith in FINRA arbitration.

The claimant filed a FINRA arbitration in Washington, D.C., seeking $350,000 in compensatory damages related to discrepancies and unauthorized transactions in her accounts. The arbitration panel found that the claimant failed to present any credible evidence. The panel further determined that the claimant maintained her action in bad faith and, thus, awarded $35,000 in attorney’s fees to the respondent.

Case Law Alerts, 2nd Quarter, April 2014