Kirby McInerney will recommend the best litigation vehicle for the claim, whether that is proceeding with the claim in court or in arbitration. While most of KM’s securities practice involves federal court litigation, the firm is well versed in FINRA and other arbitration forums and has collected millions of dollars on behalf of our clients.
Arbitration proceedings have the advantage of being entirely confidential during the pendency of the claim. In addition, arbitration claims proceed more quickly than court litigation and do not typically involve the same kind of discovery burdens associated with court litigation. Other reasons that are unique to the particular claims involved also may weigh in favor of arbitration.
KM has successfully represented governmental and municipal entities, hospitals, universities, and state finance authorities in connection with FINRA arbitrations relating to the issuance of municipal bonds. Likewise, KM has represented individual investors who were damaged as a result of complex commercial transactions with their broker-dealers and underwriters.
Skouras v. Creditanstalt International Advisers, Inc., NASD Arb., No. 96-05847 (1998). Following an approximately one-month hearing, successfully defeated multi-million dollar claim against major European institution.
Kirby McInerney Partner Mark Strauss is quoted in this article about the Third Circuit’s recent decision that banks can’t push clients out of FINRA arbitration.
A Third Circuit panel ruled Tuesday that J.P. Morgan Securities must arbitrate a Pennsylvania health system’s claims over several pre-2008 auction rate securities offerings, finding the system hadn’t waived its right to arbitration before the Financial Industry Regulatory Authority by signing on to agreements with clauses pegging New York’s Southern District as the forum for any disputes.
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