By Keith Goldberg (February 1, 2013, 5:09 PM EST) -- 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 of the securities.
The $330 billion market for ARS went bust in mid-February 2008 amid...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!