A Finra spokesman said that arbitration panels rule unanimously in about 95% to 98% of cases.
Gene Ullrich, a spokesman for Strategic Wealth Partners, says the company and two advisors "strongly disagree with the outcome" and will continue to evaluate their legal rights and possible options. The dissenting arbitrator's view and conclusions of the state court judge, he says, are significant. Two Mesirow employees now work at Strategic but in administrative positions, he said.
The award, said Ullrich, is a fraction of the amount sought by Mesirow. Ullrich declined to specify that amount.
A Mesirow spokeswoman said the company is "very pleased with the result." She declined further comment on other specifics of the case or ruling.
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