Douglas and Kristin Mirabelli v. Merrill Lynch, Pierce, Fenner & Smith, Inc. - FINRA No. 10-03400

Lax & Neville LLP recently won a $1.2 million FINRA arbitration award against Merrill Lynch for sales practice abuses concerning the Merrill Lynch Phil Scott Team and the Merrill Lynch Phil Scott Team Income Portfolios. The case was tried during twenty-three (23) hearing sessions. The FINRA arbitration award against Merrill Lynch consisted of $800,219 in compensatory damages which represented Claimants' entire net out-of-pocket losses and interest at the rate of 6% per annum from July 26, 2010 through the date the Award is paid in full. In addition to the $800,219 award in compensatory damages, the Panel awarded Claimants all attorneys' fees requested in the amount of $391,474, along with their costs in the amount of $47,339.91. All hearing session fees were also assessed against Merrill Lynch.

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What transpired at the [redacted] was nothing less than a truly masterful and exceptional experience regarding your intelligence, professionalism, preparedness for my case, teamwork and erudite knowledge pertaining to Securities Law, FINRA and the SEC. The facility and ease of how the case was handled, the systematic questioning of all the witnesses to obtain the facts necessary to prove our case, the preparation of the critically conclusive information and documents, the commanding coup de gras closing argument and your tireless consideration and respect for the Panel and [redacted] was, is and will continue to epitomize my feelings and conclusion that what transpired over those long three days was nothing less than raw and unabashed brilliance. Anonymous
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