Cases & Deals

Financial institution resolves dispute over allegations of unauthorized trades

Clients Financial institution

Jones Day represented a financial institution in a FINRA arbitration involving cross border discovery issues in connection with the sale of structured products to a private investment company. Claimants alleged that the structured products, valued at one point at over $60 million dollars, were unsuitable and unauthorized trades, and filed claims for breaches of fiduciary duty, breach of contract, and negligent supervision for the losses. A confidential settlement was reached and joint motion of dismissal with prejudice was filed.