Judge Confirms $3.1M Award Against Brazilian Securities Broker

Mealey's (September 21, 2020, 9:19 AM EDT) -- NEW YORK — A federal judge in New York on Aug. 28 confirmed a $3.1 million arbitral award in favor of a Brazilian financial entity against a Brazilian broker that did not appear in court and that was ordered to pay damages for breaching its obligation to make a mandatory bonus payment under the parties' service agreement after it prematurely terminated the agreement (TBC Consultoria em Investimentos Financeiros Ltda. v. Gradual Corretora de Cambio, Titulos e Valores Mobiliarios S.A., No. 17-cv-3145, S.D. N.Y., 2020 U.S. Dist. LEXIS 156880)....