Former NBA Executive Croce Scores In FINRA Arbitration Dispute

on wallstreet
June 14, 2011

Former Philadelphia 76ers President Pat Croce and his wife Diane received over $2 million in an arbitration award tied to their principal protected notes originally issued by Lehman Brothers Holdings Inc. Totalling 2.25 million, this will be the largest award that the respondent UBS Financial Services Inc. has had to pay out.

Representing the Croce in this dispute, Zamansky states that, “FINRA’s actions amounted to just a ‘slap on the wrist’ for UBS, which sold more than $1 billion of Lehman Brothers products.” Zamansky has tried more than 40 cases involving the Lehman Brothers and he will continue to try more cases all over the country.

Read Article—

TAGGED: Arbitration, * News

ADR Times is a community exploring mediation, conflict resolution, diplomacy and peace - a library of news, insights and resources. We welcome contributions and collaborations from other like-minded and proactive dispute resolution practitioners and scholars.