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.
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