Attorneys – Fees – S.C. Statute – Frivolous Lawsuits – Arbitration – Securities – Labor & EmploymentWachovia Securities LLC v. Brand A securities firm that lost its FINRA arbitration proceeding against former employees who left to work for a competitor winds up paying over $1 million in attorney’s fees under a South Carolina statute that penalizes frivolous lawsuits; the 4th Circuit affirms the district court order refusing to vacate the arbitration award in favor of the former employees and upholding the award of $15,080 in treble damages and $1.1 million in attorney’s fees under the South Carolina Frivolous Civil Proceedings Act.
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- Print and Digital -
Published: February 23, 2012
Time posted: 2:26 pm
Tags: Arbitration, Attorneys, Fees, Frivolous Lawsuits, Labor & Employment, S.C. Statute, Securities