Case Conclusion Date: 06.14.2011
Practice Area: Wrongful termination
Outcome: Award for Claimants - $1,509,609
Description: Following a week-long hearing, FINRA arbitrators awarded over $1.5 million in damages to three former BNY Mellon Capital Markets employees for wrongful discharge and defamation and ordered the Claimants’ Form U-4 and U-5 reports be expunged and corrected. Claimants asserted that BNY knew of and approved their trading activities to assist a customer to repurchase its own Auction Rate Securities.