Dilworth Paxson Wins Double Header for Morgan Stanley
In a November 8, 2023, FINRA Award, Morgan Stanley was awarded $2.8 million on a claim for contribution in an arbitration handled by Ira N. Glauber of Dilworth Paxson’s New York office with assistance from partner Yonit Caplow. This followed an October 31, 2023 decision of the U.S. District Court for the District of New Jersey in which Erik Coccia of Dilworth’s Philadelphia office successfully moved for confirmation of the award in a related arbitration. Dilworth Paxson brought the second arbitration for Morgan Stanley, successfully demonstrating that the prior “joint and several” award should be enforced despite the strenuous objection of the two other parties to the arbitration that equitable considerations barred Morgan Stanley’s claim for contribution. As a result of Dilworth’s efforts, Morgan Stanley is able to recover two-thirds of the amount that it was ordered to pay those parties in the prior arbitration.
An article reporting this appeared in the November 9, 2023 edition of Advisor Hub: https://bitly.ws/32cHE