Turnberry Capital Management L.P., et al. v. Raymond James & Associates, Inc.
Barrasso Usdin successfully defended the Firm’s client, Raymond James & Associates, Inc., in a two-week FINRA arbitration. The claimants sought an award of approximately $24 million in connection with their purchase of residential mortgage-backed securities from Raymond James in 2007, based upon unfounded allegations of fraud, negligent misrepresentation, and breach of fiduciary duty. After a full hearing, Raymond James was fully vindicated by the panel’s award, which denied the claims in their entirety. Stephen H. Kupperman was lead counsel for Raymond James, assisted by Stephen R. Klaffky.