Morgan Keegan Blasts $1.5M FINRA Award To Ex-NBA Star

Law360, Los Angeles (October 10, 2012, 6:14 PM EDT) -- Morgan Keegan & Co. Inc. told the Ninth Circuit on Wednesday that a $1.46 million arbitration award to a former NBA star was tainted by bias, though the appeals court questioned how the investment firm could quarrel with a process created to give the financial services industry an “advantage” over investors.

A Financial Industry Regulatory Authority arbitration panel made the award to Horace Grant in September 2009, and a federal judge denied Morgan Keegan's bid to vacate it in June 2010. Grant had accused the company...
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