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Arbitration claims against member firms

By SHUSTAK REYNOLDS & PARTNERS of Shustak Reynolds & Partners, P.C. posted on Monday, August 22, 2011.

In California, when registered representatives assert arbitration claims against member firms, we recommend including allegations involving violations of California labor law such as requiring the rep to pay for an assistant or some other cost that legally should be paid for by the firm. Not only does a labor code violation increase the potential for damages recovery, but it reduces the cost of the FINRA arbitration filing from $1,800 to a maximum of $200, a considerable savings easily accomplished by artful and knowledgeable drafting of the arbitration claim. See ARYBETH ARMENDARIZ et al., Plaintiffs and Respondents,v. FOUNDATION HEALTH PSYCHCARE SERVICES, INC., Defendant and Appellant.

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