FINRA Panel Awards US Airways $30M In ARS Dispute

Law360, New York (February 01, 2013, 5:09 PM ET) -- A Financial Industry Regulatory Authority arbitration panel on Thursday awarded U.S. Airways Group Inc. $30 million in its dispute with Oppenheimer & Co. Inc. in which the airline sought to force the investment firm to buy back over $250 million in auction rate securities.

U.S. Airways filed the FINRA arbitration claim in 2009 against Oppenheimer and one of its former managing directors, Vincent Woo, accusing them of inappropriately investing the airline's funds in ARS, which soured in 2007, and not informing the company of the riskiness...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers