In February, 2016, Nomura Securities was ordered to pay former rep Gopla Tampi $250,000. A three member FINRA arbitration panel issued the $250,000 binding arbitration award for failure to pay an agreed upon bonus.
The underlying matter involved allegations that Nomura failed to pay the bonus, and the Claimant sued Nomura in arbitration under several theories including breach of contract and violations of labor law. In an explained decision, the panel found that the written terms of Claimant’s employment contained a bonus provision that was part of Claimant’s compensation package. The panel reviewed Nomura’s manual on eligibility for bonus compensation, and found it unclear on the issue. But based on the evidence resented, as well as Claimant’s performance and conduct, he was entitled to a bonus.
As a result of this award The Law Office of David Liebrader has opened an investigation into Nomura Securities.
In order to lawfully sell investments to the public, a broker dealer must be registered. According to FINRA’s CRD disclosure report, Nomura Securities is a New York corporation, formed in 1969, and registered with FINRA and fourteen other SROS. It is licensed to do business in 52 states and territories. Since inception it has been the subject of 42 regulatory investigations.
FINRA Code of Arbitration Procedure section 12904 governs the issuance and payments of awards. Key provisions of the rule are that the award may be entered as a judgment in any court of competent jurisdiction, after a motion to confirm the award is filed pursuant to state or federal law. Furthermore, unless the applicable law directs otherwise, all awards rendered under the Code of Arbitration Procedure are final, and are not subject to review or appeal. Grounds for overturning binding FINRA arbitration awards are extremely limited. Nomura Securities has thirty days to pay the award, or to seek to have the award vacated.
If you are the victim of investment fraud, have lost money investing with, or have been underpaid an agreed upon bonus by Nomura Securities, please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.