Capabilities

FINRA arbitration claim

Charles Schwab & Co.
2014

Our attorneys defended Charles Schwab & Co. in a multi-million dollar FINRA arbitration claim brought on behalf of the Hillcrest Children’s Center of Washington, DC, a two-hundred year old non-profit serving disadvantaged children.  The claim arose because an investment advisor hired by Hillcrest defrauded the Center of over US$7 million of its endowment.  The advisor used several Schwab accounts in the course of committing its fraud, and Hillcrest claimed that Schwab should have identified the fraud and warned the Center.  The arbitration lasted nearly two weeks and resulted in an award of only a small fraction of what was sought by the claimant.

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