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FINRA Arbitration Panel Awards Dowd Bennett Clients $4.2M

Dowd Bennett recently secured a trial victory by obtaining an approximately $4.2 million arbitration award from a FINRA Arbitration Panel in Miami, Florida against Morgan Stanley Smith Barney, LLC.  Dowd Bennett’s clients, James Groves, a former Mega Millions lottery winner, and Asante Samuel, a now-retired 13-year NFL veteran, were urged to invest in a South Beach Nightclub and a second Miami Nightclub by a now-lifetime barred Morgan Stanley financial advisor.  The Panel found in Dowd Bennett’s clients’ favor on a series of claims, including failure to properly supervise the financial advisor at issue.  Matthew Johnson of Dowd Bennett tried the case with his co-counsel, Carlson & Associates, P.A. from Miami, Florida.  Morgan Stanley was represented in the case by Greenberg Traurig, LLP.

Additional information available in the links below.

Law 360 Article by Darcy Reddan

On Wall Street Article by Andrew Welsch

January 04, 2019 Press Release

 

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Dowd Bennett is a litigation firm with extensive courtroom experience. Led by trial-seasoned lawyers, including former federal prosecutors and judicial law clerks, our team shares tenacity, a passion for seeing cases through trial and a complete commitment to client service.