Judge Upholds Award Against Merrill That Led to Firing of FINRA Arbitrators

, The Litigation Daily

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It may only be a $520,000 arbitration award, but Merrill Lynch and Co. Inc. has sure fought hard to try to undo it. On Friday the brokerage firm's latest efforts were unsuccessful, as an Atlanta federal judge upheld a May 2011 decision by the Financial Industry Regulatory Authority in favor of a couple who had accused a Merrill unit of inadequately monitoring their accounts. Represented by Greenberg Traurig, the firm had claimed that the three FINRA arbitrators were biased against it.

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