Bloomberg
Citigroup Inc., the third-largest U.S. bank by assets, lost an arbitration ruling that will force it to pay almost $12 million in damages in a case against actor Larry Hagman. A Financial Industry Regulatory Authority arbitration board ruled that Citigroup must pay $1.1 million in compensatory damages and must donate $10 million of punitive damages to […]
Financial Times
Citigroup was ordered to pay more than $11m to resolve allegations that it mishandled the accounts of Larry Hagman, the actor best known for his portrayal of the conniving Texas oil baron JR Ewing in the television soap opera Dallas. Arbitrators from the Financial Industry Regulatory Authority found Citi liable in the case and directed the bank […]
Reuters
Larry Hagman, the actor who played the villainous J.R. Ewing in the 1980s TV show “Dallas,” has won his case alleging that he was victimized by Citigroup Inc., with the bank ordered to pay more than $11 million in damages. The total award includes $10 million in punitive damages that Citi must pay to charities […]
Reuters
Even as UBS launches a global campaign to revive its banged-up brand, the Swiss bank’s U.S. brokerage faces another costly and embarrassing wave of regulatory actions. Investor lawyers for the past year have been taking UBS to task for selling Lehman Brothers debt with such reassuring names as “100 percent principal-protected notes” that promised robust […]
Dow Jones
Raymond James & Associates, Inc. and one of its brokers must buy back $925,000 in auction-rate securities from a Texas-based couple, a securities arbitration panel has ruled. Rex and Sherese Glendenning, of the Celina area in Texas, originally sought $1.4 million in the case they filed in February 2009, against Raymond James & Associates, a […]