» GKN Prevails on Behalf of Raymond James in Arbitration Brought by Former Financial Advisor alleging RICO and Seeking Over $4.9 Million in Damages. The Panel Assessed Almost $1.1 Million in Punitive Damages and Attorneys’ Fees in Favor of Respondents GKN Prevails on Behalf of Raymond James in Arbitration Brought by Former Financial Advisor alleging RICO and Seeking Over $4.9 Million in Damages. The Panel Assessed Almost $1.1 Million in Punitive Damages and Attorneys’ Fees in Favor of Respondents – Gusrae Kaplan Nusbaum PLLC

In the arbitration styled William Francis Garbarino vs. Raymond James Financial Services, Inc., et al., FINRA Case No. 09-04736, following a 76 hearing session arbitration spanning almost 3 years, the Panel unanimously assessed an award of $1,088,944 including $225,000 punitive damages and $858,944 in attorneys’ fees, in favor of the Respondents and against a former Raymond James financial advisor who inititated the arbitration and requested an award in his favor in excess of $4.9 million.  The Panel also assessed $60,187.50 in hearing session fees against the Claimant.

The GKN team consisted of Partner David A. Gehn and Associate Matthew B. Baum.