“We are very happy that the FINRA arbitration process was confirmed by the Texas District Court. We are gratified that our efforts to protect the firm and its clients were successful.” Mark Esposito, President of Esposito Securities said, “In confirming the Award the court showed that the FINRA arbitration process is binding and final.”
In June 2011 a FINRA Arbitration Panel awarded Esposito Securities over $1.46 Million in damages and attorney fees, along with pre-judgment interest dating back to October of 2009. The Arbitration Complaint alleged that WFG had recruited Esposito employees in violation of a contract between Esposito and WFG, entered into while Esposito was an independent broker for WFG, and induced Esposito employees to breach their contracts with Esposito. The claims asserted included breach of contract, raiding and tortious interference.
Esposito Securities, LLC, is a part of the Esposito Global family, and provides global equity trading services. A growing list of clients use our services, including registered investment advisors, mutual funds, hedge funds, ETF’s, closed end funds and unit investment trusts with trillions of dollars in assets.
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