On February 1, 2022, Arkin Solbakken LLP obtained a favorable award after a hearing on the merits on behalf of its client, an emerging markets foreign exchange options broker, in a FINRA arbitration styled Bernardini v. GFI Securities LLC, Case No. 19-02513. The Tribunal’s award (i) found that GFI defamed claimant-broker when it filed a Form 8-T with the National Futures Association claiming that claimant-broker provided false information to mislead market participants or mislead GFI’s investigators; (ii) awarded claimant-broker compensatory damages; and (iii) directed GFI to amend the Form 8-T it had previously filed to explicitly provide that the Tribunal determined that there was insufficient evidence to prove that claimant-broker provided false information to mislead market participants or mislead GFI’s investigators. The former GFI broker was represented by Lisa C. Solbakken, Deana Davidian, and Thomas G. O’Brien of Arkin Solbakken LLP.
