Posts tagged Lowery v. John Thomas Financial.
An all-public panel of FINRA arbitrators entered a preclusion order and awarded $750,000 in punitive damages for Respondents' failure to participate in discovery and disregard of pre-hearing filing requirements. Claimant filed a suitability claim (along with the usual companion counts) over some proprietary fund investments, among others. Respondents' discovery responses originally were due January 17, 2014. They did not oppose Claimant's March 2014 motion to compel and the Chair ordered production. Respondents failed to produce documents and responded only later to the ...
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