Defense verdict in a binding FINRA arbitration in Boca Raton, Florida. ​Our broker-dealer client was sued in arbitration by two retired broker claimants who sought $5 million in past and future benefits, under a retirement program that paid override fees to retired brokers on books of business they had developed decades ago. We defended the case on the basis that their broker-dealer client had no liability to the plaintiffs because the retirement program was already terminated by a predecessor broker-dealer prior to our client’s acquisition of that predecessor broker-dealer. In addition, we defended the case on the basis that the applicable contracts allowed for the retirement program to be modified or terminated.