WLG’s FINRA Award for Compensatory and Punitive Damages Makes Headlines

Last week, Warren Law Group secured a $175,000 award in compensatory and punitive damages for our client in regards to a defamatory U5 filing. Jon-Jorge Aras, Partner and Chair of Securities Litigation knew this was going to be an uphill battle as he was up against a high-profile brokerage firm, Commonwealth. This significant case was featured in various digital media publications including FinancialPlanning and BrokeandBroker.

Regarding the case, Aras states, “I believe the Panel made the right decision and sent a clear message to the industry by awarding my client compensatory and punitive damages. Termination disclosures on the Form U5 have a dramatic and lasting effect on registered representatives and their ability to earn a living. The Panel’s decision should make firms pause before leveling allegations that are not factual and which should not form the basis of a termination. In the future I expect to see more litigation to combat false Form U5 disclosures.”

For press inquiries regarding this case and future ones, email info@warren.law.

Click to read the full award.

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Warren Law Group

WLG provides legal representation to financial services professionals and business owners in regulatory and compliance matters, litigation, and securities.