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Manifest Disregard Financial Industry Regulatory Authority (FINRA)

Carlton Fields

First Circuit Affirms Confirmation of FINRA Award Over Claim That Arbitration Panel Should Have Held Investment Firm Liable Under...

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The First Circuit has affirmed the confirmation of a FINRA award over an appellant’s claim that the arbitrators erred by, among other things, not holding an investment firm liable under the doctrine of respondeat superior....more

Carlton Fields

Court Denies Petition to Vacate Arbitration Award Based on Judicial Estoppel

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This case arises out of plaintiff John B. Napoleone’s failure to repay a sign-on bonus of $100,000 to his former employer, defendant S2K Financial LLC, under the terms of his employment agreement. S2K commenced an arbitration...more

Carlton Fields

District Court Vacates Award Based On Violation Of FINRA Rules For Manifest Disregard Of The Law

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A district court has decided against giving an arbitration panel a third chance to get it right after the court found that the panel manifestly disregarded the law in its initial and modified arbitration awards....more

Carlton Fields

Second Circuit Rejects Manifest Disregard Of Law As A Basis For Vacating An Arbitration Award

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A panel of the Second Circuit has, in an unpublished summary order, emphasized the high bar that must be cleared by a party seeking to vacate an arbitration award. The matter arose from the decision of a financial advisor...more

Carlton Fields

District Of Colorado Affirms FINRA Arbitration Award

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A Colorado federal court affirmed a FINRA arbitration award, despite a cross-motion to vacate the award on the bases of alleged panel misconduct; exceeding its powers; manifest disregard of the law; and that the award did not...more

Bass, Berry & Sims PLC

Chris Lazarini Comments on Application of Manifest Disregard of the Law

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case in which a former trader fraudulently purchased $1 billion in Apple shares that ultimately forced the closure of the trader's firm, Rochdale Securities. Rochdale...more

Carlton Fields

Action To Vacate Arbitral Award Dismissed For Lack Of Subject-Matter Jurisdiction

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A disappointed claimant in a FINRA arbitration filed suit under section 10 of the Federal Arbitration Act (“FAA”) in United States District Court to vacate the arbitral award. The court dismissed the case for lack of...more

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