Reuters – An arbitration panel ordered a Merrill Lynch clearing unit to pay $63.7 million in damages to California hedge fund manager Rosen Capital Partners LP as compensation for losses during the 2008 financial crisis.
The panel found Merrill Lynch’s Professional Clearing Corp unit liable for about $63.7 million in compensatory damages plus 9 percent interest accruing from Oct. 7, 2008. It is one of the largest-ever awards granted by FINRA arbitrators.
