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FINRA arbitration panel issues hearing award of $850,004.90 in favor of Imbesi Christensen clients
The law firm of Imbesi Christensen received notification that a FINRA Arbitration panel issued an award of $850,004.90 to the firm's clients after a hearing, for a FINRA arbitration claim filed in January of 2011.
By: Imbesi Christensen
In the Statement of Claim, filed on January 25, 2011, the Claimants alleged that the Respondents recommended the purchase of unsuitable investments including a tenant-in-common ("TIC Investment"). The claim alleged the Claimants sustained financial damages equal to $990,004.90.
In their Statement of Answers, the Respondents denied the Claimants' claims and requested that the Claimants' claims be dismissed and the panel issue an award to the Respondents for its attorney's fees, costs and expenses. After a hearing was conducted, the three-person arbitration panel issued an award of $850,004.90 to the Claimants, in addition to post-judgment interest at the legal rate of ten percent (10%).
Attorneys Jeanne Christensen, Brittany Weiner and Vincent Imbesi, from Imbesi Christensen, all participated in the representation of the Claimants. Attorney Kevin J. Deloatch, Esq., served as co-counsel with the firm.
Specific details, including the identification of the parties, will be released when the final award is published by FINRA.
Imbesi Christensen represents investors, employees and members of FINRA involved in disputes for which FINRA arbitration is mandated.