John J. Baker, Natalie N. Baker and Harriet B. Baker v. Merrill Lynch, Pierce, Fenner & Smith, Inc. – FINRA No. 09-06762

Lax, Neville & Intelisano, LLP, on behalf of clients of the Merrill Lynch Phil Scott Team, recently won an $880,000 FINRA arbitration award against Merrill Lynch for purported sales practice abuses concerning the Merrill Lynch Phil Scott Team and the Merrill Lynch Phil Scott Team Income Portfolio. Brian Neville and Barry Lax of our office tried the matter which included twenty-six (26) hearing sessions. In addition to the $880,000 award in compensatory damages, the Panel also granted Claimants’ Motion for Sanctions and “assessed fees for hearings on discovery to Respondent as sanctions against Respondent for untimely compliance with the Panel’s orders to compel the production of documents.”

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