FMG attorneys, Chad Weaver and Elizabeth Lowery, obtained a favorable result for a prominent life insurance company after a three week FINRA arbitration. The matter involved a FINRA claim filed by two registered representative claimants against their former broker-dealer. The claimant’s alleged that the former broker-dealer had (i) wrongfully terminated them, (ii) wrongfully interfered with their brokerage business, and (iii) the reasons for their termination provided on their Forms U5 were defamatory. A few years later, three FINRA Arbitrators issued an award denying the majority of their claims as well as the majority of their alleged damages. The claimants then amended their claim and sought $11.6 million in compensatory damages, plus costs, attorney’s fees, punitive damages, and injunctive relief. After a failed mediation, the parties participated in another FINRA arbitration, in which Chad Weaver and Elizabeth Lowery vigorously cross examined the claimants, as well as their expert, which led to the claimants reducing their alleged compensatory damages to $7 million. The award issued by the FINRA arbitrators denied one of the claimant’s claims entirely and provided the remaining claimant with an award of $61,274, an amount significantly less than the millions originally sought.

Professionals

Chad E. Weaver
Partner
Los Angeles – Orange County, CA | Los Angeles – Downtown, CA

562.583.2124

Elizabeth A. Lowery
Partner
Los Angeles – Downtown, CA | Los Angeles – LAX, CA

310.937.2066