On August 22, 2012, Lax & Neville LLP, a leading national securities arbitration law firm, won a FINRA arbitration award against Morgan Stanley Smith Barney for failing to pay two of its current employees/financial advisors their earned back-end bonuses. In the case won by our firm, FINRA Case No. 11-02261, the Panel awarded the Claimants, Richard M. Schwartz and Alan Jacobson, the entire amount of compensatory damages they were seeking, $263,219, plus 9% interest from October 5, 2010 until the Award is paid in full. This equitable result is a win for these two financial advisors who were not paid their earned compensation.
If you are a financial advisor who has not been paid your back-end bonus, or any other due compensation, please contact Lax & Neville LLP at (212) 696-1999 to discuss your potential matter.
To view this Award, click here.