Newsroom - February 2010
Bob Brennan recently convinced a three-member FINRA securities arbitration panel to dismiss all claims against his clients, a broker/dealer and mutual fund portfolio manager. The claimant alleged that Bob's clients violated federal securities laws and state law in underwriting and managing several closed-end high-yield mutual funds. In the middle of what was originally scheduled as a week-long evidentiary hearing in Newark, New Jersey, Bob successfully argued that the claimant's claims should be dismissed because, among other things, the claimant had not purchased the mutual funds at issue from his clients.