Wachovia Ordered To Pay In Broker-Raiding Feud

Law360, New York (May 11, 2010, 5:58 PM EDT) -- An arbitration panel has ordered Wachovia Securities LLC to shell out nearly $950,000 after tossing allegations that brokerage firm Stifel Nicolaus & Co. Inc. raided a group of brokers from A.G. Edwards & Sons Inc. soon after its merger with Wachovia.

A Financial Industry Regulatory Authority arbitration panel in San Francisco on Friday dismissed all claims by Wachovia seeking damages and other relief stemming from four financial advisers and one assistant who jumped to Stifel in October 2007. The ruling follows a separate FINRA panel decision...
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