Merrill Lynch To Pay $1.9M to Fired Hawaii Advisers

Law360, New York (April 19, 2011, 8:54 PM EDT) -- A Financial Industry Regulatory Authority arbitration panel on Friday ordered Merrill Lynch to pay $1.9 million to Hawaii financial advisers who made breach-of-contract and other claims over being fired, but the decision was a victory for the firm, too.

The fight before the FINRA panel centered on the financial adviser team of Carl E. Choy, Lynne R. Kinney and Ronald C. Wo, who had been hired together from Morgan Stanley & Co. with approximately $900 million under management in October 2008, but were terminated by Merrill...
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