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Friday, July 19, 2024 | Back issues
Courthouse News Service Courthouse News Service

2nd Circuit

SECURITIES, ARBITRATION - An arbitration panel awarded plaintiffs a lump sum for damages for trading losses in their brokerage account that they blamed on the negligent advice of Salomon Smith Barney brokers. The 2nd Circuit vacated the award and remanded, instructing the panel to specify whether the award was partially based on losses of WorldCom shares, any claim for which was released by the WorldCom securities litigation judgment.

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