Press "Enter" to skip to content

Posts published in “Securities Litigation”

Maurice Wutscher LLP Securities Litigation Practice

Illinois App. Court Affirms $11 Million FINRA Award, Holds ‘Public Policy’ Exception of Arbitration Act is Limited to Awards Arising From a CBA

The Appellate Court of Illinois, First District, recently affirmed an $11 million arbitration award entered by a Financial Industry Regulatory Authority panel in favor of a financial advisor and against his former employer. In doing so, the Court held that the “public policy” exception of the Illinois Uniform Arbitration Act is limited to arbitration awards arising from a collective bargaining agreement (CBA).

Mass. Superior Court Affirms Mutual Request for Attorneys’ Fees in Arbitration Can Provide Requisite Legal Basis for Award of Fees

The Massachusetts Superior Court, Business Litigation Session, recently denied a broker-dealer’s motion to vacate a Financial Industry Regulatory Authority (FINRA) arbitration award requiring it to pay attorneys’ fees to its former employees, holding that the parties’ mutual request for attorneys’ fees in an arbitration can provide the requisite legal basis for an award of attorneys’ fees.