7th Circuit Panel Hits Securities Trader With Sanctions In Brokerage Suit

Mealey's (May 7, 2020, 1:49 PM EDT) -- CHICAGO — Calling a securities trading firm’s appeal in a brokerage dispute “an exercise in unacceptable gamesmanship, without a reasonable and good-faith basis,” a Seventh Circuit U.S. Court of Appeals panel on May 5 sanctioned the firm for bringing the appeal, which the panel deemed to be in disregard for the circuit’s controlling precedent and an attempt to avoid payment of funds to a brokerage in a previous lawsuit (H.A.L. NY Holdings LLC v. Joseph Michael Guinan Jr., No. 19-1942, 7th Cir., 2020 U.S. App. LEXIS 14297)....

Related Sections