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Former Merrill Lynch Broker Recovers Damages and Is Awarded U-5 Expungement of Defamatory Language

An NASD Arbitration panel ordered that the broker's defamatory Form U-5 be re-written to state that he "terminated without cause", after Merrill Lynch failed to prove that the broker had made unauthorized trades in two client accounts. The broker was awarded $400,000 in compensatory damages and $1.2 million in punitive damages.

Source: Securities Arbitration Commentator

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