FINRA Orders GFI To Pay Burlington Capital $1.3M

Law360, New York (March 26, 2008, 12:00 AM EDT) -- A four-year dispute between two financial services companies over allegations that one firm poached top brokers from the other has ended in a $1.3 million payday for Burlington Capital Markets Inc., after a judge ordered rival brokerage GFI Group Inc. to pay the firm for allegedly using confidential information to woo its employees.

In a decision handed down on Wednesday, an arbitration panel of the Financial Industry Regulatory Authority awarded Burlington the damages.

GFI noted in a statement that FINRA “failed to find GFI specifically liable...
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