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Seyfarth Secures $68 Million FINRA Arbitration Win For C.L. King
Seyfarth Shaw LLP successfully secured a complete defense verdict in a FINRA arbitration seeking over $68 million for C.L. King & Associates, Inc., a full-service investment bank and self-clearing broker-dealer, in one of the largest and most complex FINRA arbitrations involving a clearing firm in recent years. After 39 days of evidentiary hearings, a three person panel of FINRA arbitrators denied all of the claims by a former customer against C.L. King.
The claimants, a number of family accounts, alleged that C.L. King as the custodial and clearing broker for an independent investment adviser failed to prevent significant losses and took additional actions that contributed to those losses. After several weeks of testimony from over fifteen witnesses, including five expert witnesses called by the claimants on issues relating to supervision, margin rules, account management, market variables, hedging and options strategies and damages, the FINRA panel sided completely with C.L. King on all counts and denied the claimants’ claims in their entirety. The full decision can be found here.
The Seyfarth Litigation team was led by Boston partner Christopher Robertson and included associate Dallin Wilson in Boston. In addition to the trial team, Seyfarth lawyers Jason Priebe (Chicago), Ryan Tilot (Chicago), and Douglas Rooney (Boston) assisted in the case.
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CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
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SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
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