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Smith Villazor LLP notches arbitration win on behalf of AllianceBernstein and financial advisor

February 14, 2023

In a complete win for Smith Villazor’s clients, a panel of three FINRA arbitrators rejected an AllianceBernstein customer’s claims against the firm and one of its financial advisors.  Following a two-day hearing where Smith Villazor represented AllianceBernstein and the advisor, the panel issued an award denying in their entirety the customer’s claims for breach of contract and breach of fiduciary duty, and granting the advisor’s request to expunge the matter from the advisor’s industry record.  The panel expressly and “unanimously” found that the customer’s claims were “false,” and that the “the evidence presented made it clear” that the advisor “at all times acted in good faith and was diligent in looking out for Claimant’s interests.”  Patrick Smith and Brian Burns of Smith Villazor represented AllianceBernstein and the advisor in the arbitration.

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