Investment Advisor Hit with Arbitration Award in Excess of $48 Million, Including $30 Million in Treble Damages
RADNOR, Pa., April 16, 2015 /PRNewswire/ -- McCausland Keen & Buckman announced today that it obtained an arbitration award (the "Award") on behalf of suburban Philadelphia, Pennsylvania residents James and Jane Sutow. The American Arbitration Association arbitration, conducted by arbitrator Philip S. Cottone, addressed claims for investment related losses brought by the Sutows against their registered investment advisor Family Endowment Partners, L.P. ("FEP") and its principal Lee D. Weiss. On April 14, 2015, the Award was granted in favor of the Sutows, and, on April 14, 2015, a petition to confirm the Award was docketed in the United States District Court for the Eastern District of Pennsylvania at No. 15-mc-120. FEP and Weiss are based in Boston, Massachusetts, and during the time in question, maintained an office in Wayne, Pennsylvania.
The Award against FEP and Weiss was in the amount of $48,456,612, which included actual damages of $17,395,309, attorneys' fees, expert fees and costs of $990,750, and treble damages of $30,070,353. The arbitration was held in Malvern, Pennsylvania on November 12-14, 17-21, 24-25, 2014, December 22-23, 2014 and February 11, 2015. The Award, which can be viewed in its entirety in the attached PDF file, describes in detail the Sutows' claims and the basis of the Award, including the $30,070,353 in treble damages.
McCausland Keen & Buckman shareholder Glenn S. Gitomer, with the assistance of the firm's litigation group, including Garth H. Hoyt, Jean Hanna Bickhart, and Donnell C. Much, represented the Sutows.
The attorneys in McCausland Keen & Buckman's Securities Group represent clients in securities law actions and have significant experience with litigation and arbitration on behalf of defrauded investors. For more information, visit: http://www.phillysecuritiesfraudlawyers.com
Media Contacts: |
|
Glenn S. Gitomer, Esq. Shareholder McCausland Keen & Buckman Radnor Court, Suite 160 259 N. Radnor-Chester Road Radnor, PA 19087 (610) 341-1020
|
Crystal Garcia Marketing Director McCausland Keen & Buckman Radnor Court, Suite 160 259 N. Radnor-Chester Road Radnor, PA 19087 (610) 341-1072 |
Photo - http://photos.prnewswire.com/prnh/20150416/199032
SOURCE McCausland Keen & Buckman
Related Links
http://www.phillysecuritiesfraudlawyers.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article