New York Securities Lawyer Blog
On August 7, 2025, Lax, Neville & Intelisano, LLP won a FINRA arbitration award on behalf of James Dean (“Claimant”) against J.P. Morgan Securities LLC (“JP Morgan”) for claims involving unpaid incentive award cash compensation, deferred compensation restricted stock units (RSUs) and severance. Claimant asserted causes of action against JP Morgan for breach of contract; California Labor Code (CLC), California Unfair Competition Law; breach of the implied covenant of good faith and fair dealing; and unjust enrichment.
After considering the pleadings, testimony, and evidence given at the hearing, a three-arbitrator FINRA panel rejected JP Morgan’s defenses and awarded the Claimant $1.09 million, which includes $675,970.72 of compensatory damages constituting back wages, plus $121,075.77 in prejudgment interest calculated from December 22, 2021 through and including July 25, 2025, and $300,749.30 in attorney’s fees pursuant to the California Labor Code (CLC). The Panel also ordered JP Morgan to pay all the FINRA hearing sessions fees, totaling $26,730. To view this award, click here.
Lax, Neville & Intelisano, LLP has won millions in compensatory damages, interest, costs, and attorneys’ fees in claims involving deferred and incentive compensation, RSUs and severance. To discuss this FINRA arbitration Award, please contact Barry R. Lax or Sandra P. Lahens at (212) 696-1999.