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Larry Hagman Wins $11 million FINRA Securities Arbitratoin Against Citigroup
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October 7, 2010 @ 11:30 am |
Larry Hagman, better known as JR Ewing, or my favorite: Major Nelson, appears to have won an $11 million award against Citigroup.
Not only did the Panel award Mr. Hagman compensatory damages in the amount of $1.098,386.00, but also award Mr. Hagman attorney's fees of $439,354.40.
In addition, the Panel also ordered that Citigroup pay $10,000,000 directly to the IRS Tax-Exempt 501 c(3) charitable organization(s) of Mr. Hagman's choice. Notwithstanding the outrageous circumstances warranting the imposition of punitive damages, Citigroup...
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REPORT OF THE STAFFS OF THE CFTC AND SEC TO THE JOINT ADVISORY COMMITTEE ON EMERGING REGULATORY ISSUES
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October 1, 2010 @ 12:07 pm |
EXECUTIVE SUMMARY
On May 6, 2010, the prices of many U.S.-based equity products experienced an extraordinarily rapid decline and recovery. That afternoon, major equity indices in both the futures and securities markets, each already down over 4% from their prior-day close, suddenly plummeted a further 5-6% in a matter of minutes before rebounding almost as quickly.
Many of the almost 8,000 individual equity securities and exchange traded funds ("ETFs") traded that day suffered similar...
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