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Explained Award: Sofia v. Fross
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EXPLAINED AWARD: SOFIA v. FROSS, AAA ID #01-16-0002-6358 (Leesburg, FL, 11/27/17).

This week, we follow up our recent review of a lengthy AAA Award in a customer dispute against a broker-dealer (SAA 2017-45) with a shorter,

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Court OKs Adding Inflation Adjustment to Receiver’s Distribution to Fraud Victims: SEC v. Amerindo Investment Advisors, Inc.
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By Pete S. Michaels

It is appropriate for a court in a SEC enforcement proceeding to authorize the receiver of a defendant entity to distribute to each investor an inflation adjustment based on the Consumer Price Index.

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Fifth Circuit: Jurisdictional Amount in Controversy Judged by Claim Amount in Award Challenge: Pershing LLC v. Kiebach
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By George H. Friedman

The “amount in controversy” for FAA federal jurisdiction is determined by what was demanded in the underlying arbitration,

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Explained Award Favors Customer in Flubbed Order Execution: Martin v. Wells Fargo Advisors LLC
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Martin v. Wells Fargo Advisors LLC, FINRA ID #14-02593 (Atlanta, GA, 12/16/15).

It’s been our observation that Explained Awards in customer-initiated cases occur primarily when the customer loses.

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A Broker-Dealer Invests Sale Proceeds in the Owner’s Account – Yet Is Still Liable for Conversion: Artra 524(g) Asbestos Trust v. Artra Group, Inc.
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No. 11 C 8028 (N.D. Ill., 4/22/14). Account Administration * Bankruptcy/Insolvency Issues * Damage Calculations * Conversion/Misappropriation * Unauthorized Trading * State Statutes Interpreted (Uniform Commercial Code (§8-115)) * Trusts &

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