Item: LaxNeville
Rating: 5
Author: Anonymous

Lax & Neville Has Won More Than $13 Million For Former Credit Suisse Advisers Seeking Deferred Compensation In FINRA Arbitrations, Including A Recent Award To Four Advisers For $2.3 Million

On February 14, 2020, four former Credit Suisse investment advisers represented by Lax & Neville LLP won a $2.3 million FINRA arbitration award against Credit Suisse Securities (USA) LLC for failure to pay their earned deferred compensation when it exited the U.S. wealth management business in October 2015. See Galli, et al. v. Credit Suisse Securities (USA) LLC, FINRA No. 17-01489. This is one of numerous FINRA arbitrations against Credit Suisse arising from its calculated decision to withhold more than $200 million in deferred compensation from nearly 300 former advisers in breach of their employment agreements and its own deferred compensation plans. Seven have gone to award thus far, including five brought by Lax & Neville LLP. See Galli, et al. v. Credit Suisse Securities (USA) LLC, FINRA No. 17-01489; DellaRusso and Sullivan v. Credit Suisse Securities (USA) LLC, FINRA No. 17-01406; Lerner and Winderbaum v. Credit Suisse Securities (USA) LLC, FINRA No. 17-00057; Finn v. Credit Suisse Securities (USA) LLC, FINRA No. 17-01277; and Chilton v. Credit Suisse Securities (USA) LLC, FINRA No. 16-03065. All seven FINRA arbitration panels and a New York State Judge (Credit Suisse Securities (USA) LLC v. Finn, Index No. 655870/2018 (N.Y. Sup. Ct. 2019)) have found for the advisers and ordered Credit Suisse to pay the deferred compensation it owes them.

Lax & Neville LLP has won more than $13 million in compensatory damages, liquidated damages, interest, costs and attorneys' fees on behalf of former Credit Suisse investment advisers. To discuss these FINRA arbitration Awards, please contact Barry R. Lax, Brian J. Neville, Sandra P. Lahens or Robert R. Miller at (212) 696-1999.

★★★★★

The Lax & Neville team were total professionals in handling our case. They've clearly had quite a bit of experience handling complex legal matters in many jurisdictions and courts. I was impressed with their professionalism coupled with persistence in arguing a very complete and well-structured case. I highly recommend their services. Anonymous

I am very, very happy with the outcome of my case and my experience with Lax Neville could not have been better. The entire team of attorneys and staff are real professionals, they always had time to answer my many questions about my case. I was treated with compassion and respect. I am so grateful I chose to work with Lax Neville. Anonymous

This is an official " thank you" for all your hard work. It really was a pleasure to have you represent me, and I enjoyed seeing you, Rush and Sandra in action. I think Lax and Neville epitomizes the phrase "quality vs quantity". I think I told you before that I spent a lot of time researching firms; in this case things worked out, I picked the best firm. I hope I never need your services in the future, but if I do I know I found the best attorneys for these types of legal issues. Anonymous

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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