UBS Financial Services, Inc. v. James S. Cave (FINRA Arbitration No. 10-05701)
A San Francisco FINRA Panel reduced the amount sought by UBS against the Law Offices of Montgomery G. Griffin’s client, a former broker, by over 50% following a three-day FINRA arbitration hearing. The Panel also stated in its Award that the firm’s client was entitled to a 5-year repayment plan for the limited monies awarded to UBS. Despite the existence of an attorneys’ fees and prejudgment interest provision in the promissory note, UBS was not awarded any attorneys’ fees or interest. UBS was ordered to pay all of the FINRA forum fees.