Reminger Secures Award in AAA Arbitration

Sean Needham and Zachary Durant recently secured an award in a AAA arbitration on behalf of their financial advisor client accused of breaching his fiduciary duties while executing trades in a managed trust account. In this regard, the advisor reallocated over $1 Million in highly appreciated assets as part of a diversification strategy, which resulted in capital gains that were not anticipated by the client. Those gains resulted in state and federal taxes that the client sought to recover as a result of the alleged unauthorized trading. After the merits hearing, the financial advisor was cleared of any wrongdoing and an award was issued in his favor denying all claims with prejudice.