{"id":33795,"date":"2013-02-07T10:25:27","date_gmt":"2013-02-07T15:25:27","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=33795"},"modified":"2013-02-07T10:25:27","modified_gmt":"2013-02-07T15:25:27","slug":"suntrust-sues-to-stop-hedge-funds-13-million-finra-arbitration","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2013\/suntrust-sues-to-stop-hedge-funds-13-million-finra-arbitration.html","title":{"rendered":"SunTrust sues to stop hedge fund&#8217;s $13 million FINRA arbitration"},"content":{"rendered":"<p>Reuters &#8211; SunTrust Banks Inc sued a Connecticut-based hedge fund on Wednesday to block arbitration of a $13 million dispute over mortgage-backed securities.<\/p>\n<p>The lawsuit, filed in U.S. district court in Manhattan, is the latest one brought by a bank to challenge claims by investors that their disputes can be heard and decided by a Financial Industry Regulatory Authority arbitration panel.<\/p>\n<p>FINRA, a Wall Street industry-funded watchdog that runs arbitrations where investor disputes with brokerage firms are often heard, has been increasingly receptive to large arbitrations.<\/p>\n<p>The hedge fund, Turnberry Capital Management LP, filed the arbitration in November to recoup $13 million plus interest that it said it lost on a 2007 investment in mortgage-backed securities, according to a statement of claim filed with FINRA that was provided by the fund&#8217;s lawyer.<\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/2013\/02\/07\/us-suntrust-finra-idUSBRE91601020130207\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; SunTrust Banks Inc sued a Connecticut-based hedge fund on Wednesday to block arbitration of a $13 million dispute over mortgage-backed securities. The lawsuit, filed in U.S. district court in Manhattan, is the latest one brought by a bank [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33795","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=33795"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33795\/revisions"}],"predecessor-version":[{"id":33801,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33795\/revisions\/33801"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=33795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=33795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=33795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}