Skip to main content

News

Citigroup To Pay $2.43M For Municipal Arbitrage Fund Loss – Finra Panel

Wall Street Journal

A unit of Citigroup Inc. (C) must pay a group of investors a total of $2.43 million for losses they incurred in a municipal arbitrage fund that lost about 80% during a period between 2007 and 2008. Five Memphis-based investors filed the claim in 2009, seeking damages related to MAT Five, which is among a […]

Read More

No End In Sight to Arbitration Bonanza

Investment News

Dozens of plaintiffs suing brokerage firms this month and last have seen a veritable gusher of multimillion-dollar awards – leaving some plaintiff’s attorneys anticipating a continued stream of such arbitration rulings. The awards, all decided by Financial Industry Authority Inc. arbitration panels in September and October include: Larry “J.R. Ewing” Hagman’s $11.5 million award vs. […]

Read More

Wall Street Plays Dr. Jekyll to Avoid Courtrooms

Bloomberg

When duped investors set out to make themselves whole after a fleecing by a broker, the American way is to hustle them off to a private court run by Wall Street. It’s a tradition that was set in stone when the Supreme Court in 1987 said that, if an investor signed an agreement to arbitrate, […]

Read More

It’s Not Nice to Mess With J.R.

New York Times

When he played the oil tycoon J. R. Ewing Jr., in “Dallas,” the long-running, ’80s-era nighttime soap opera, Larry Hagman didn’t get mad at his adversaries. He got even. Last week, Mr. Hagman, 79, got even once again. This time it was against his broker. A securities arbitration panel awarded Mr. Hagman and his wife […]

Read More

Larry Hagman’s Stockbroker Would Make J.R. Blush

Bloomberg

Larry Hagman, who played the conniving oil baron J.R. Ewing in the prime-time soap opera “Dallas”, has learned that the star broker hired to run your money can turn out to be a flop. Over the course of 15 hearing sessions in Los Angeles in August and September, Hagman, 79, and his lawyers told a […]

Read More