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BEIRNE, MAYNARD & PARSONS OBTAINS FAVORABLE AWARD FROM FINRA ARBITRATION PANEL
Danya Blair, a Partner with Beirne, Maynard & Parsons, served as counsel for a broker dealer in a customer dispute brought by two high net-worth couples claiming unsuitable equity trading and “high-risk” alternative investments. Asserting breach of contract, negligence, misrepresentation, breach of fiduciary duty, violations of the Texas Securities Act, and violations of FINRA Rules of supervision and suitability, Claimants sought damages of $1.8M, plus attorneys’ fees and punitive damages in an unspecified amount.
After seven full days of arbitration before a three-member FINRA panel, the Panel awarded Claimants nothing and made favorable rulings for the Respondent broker dealer on attorneys’ fees and costs.