FINRA Arbitration Panel Rules in Favor of UBS

June 2018

On May 17, 2018, a FINRA arbitration panel entered a $9.7 million arbitral award in favor of Williams & Connolly client UBS Financial Services Incorporated of Puerto Rico.  The award was entered against a former UBS client, David Efron, to indemnify UBS for settlement costs and litigation expenses related to its resolution of claims filed by Efron’s ex-wife in a dispute relating to Efron’s UBS accounts.  The arbitration panel ruled in UBS’s favor on all claims, dismissed Efron’s counterclaims against UBS, and awarded UBS compensatory damages, pre-award interest, attorneys’ fees, and litigation and collection expenses.  

UBS was represented in the arbitration by Williams & Connolly partner Chris Manning and associates Tracey Fung and Peter Dickos

back to top