Legal Question in Securities Law in New York

I am a stockbroker , my old firm is taking me to arbitration for the $$ paid out to a former client who sued my old firm. i was not named as defendent but named throughout the statement of claim in regards to the issue my old firm had with my client. It does state in my contract that i am responsible, the contract that i had with my old firm. Its been 5 months now and i have racked up 8k in legal fees with my lawyer. My old boss wants 50k ... if i can settle for halph or even 30k ..does that make sense? or should i just take this thing all the way to our arbitration date ..which is 6 months from now.


Asked on 1/29/10, 7:12 am

1 Answer from Attorneys
Kristen Browde Browde Law, P.C.

It depends upon your agreement(s) with your former firm and, assuming there is exposure to the firm, the degree to which you may have liability for the client's losses. I'd be happy to discuss the matter with you in confidence - feel free to get in touch.

Read more
Answered on 2/05/10, 2:45 pm


Related Questions & Answers

More Securities Law questions and answers in New York