NASD Arbitrators Award Investment Banker $250K

Law360, New York (November 27, 2006, 12:00 AM EST) -- An NASD arbitration committee awarded an investment banker $250,000 and concluded a bitter fight between brokerage firm McMahan Securities Co. LP and a former employee.

McMahan filed the first claims with the NASD, requesting that Michael Shillan return files and office equipment still in his possession after his contract was terminated in August 2004. Shillan didn’t dispute McMahan’s claims, but issued his own claims soon after, alleging breach of contract among other things.

McMahan hired Shillan in 2002 as head of the investment banking department. When...
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