Defense Award Following Six-Week FINRA Hearing.

We obtained a defense award on a six-week FINRA hearing where our client, a General Agent, faced an alleged defamation/conversion/wrongful termination claim. The claimants contended that our client not only wrongfully discharged them after discovering their involvement in a bank-owned life insurance transaction, but also converted their trails and commissions, and defamed them on their U-5 form published through FINRA BrokerCheck. Damages totaling $15 million and punitive damages were sought by the three claimants. While the panel awarded $8 million in damages against the firm they were affiliated with, we obtained a defense award on all counts and dismissal of all claims for punitive damages on behalf of our General Agent client.