Harris St. Laurent & Wechsler Wins Record $52M FINRA Arbitration Award Against D.E. Shaw

July 1, 2022

Harris St. Laurent & Wechsler LLP has won a record-setting $52 million arbitration award by the Financial Industry Regulatory Authority (FINRA) for a former Managing Director at hedge fund D.E. Shaw's Macro Group.

The FINRA panel found that D.E. Shaw had defamed our client. D.E. Shaw and four members of its executive committee were found jointly and severally liable. 

According to databases, the damage award is the sixth-largest overall award handed down to an employee by FINRA, the largest ever awarded by FINRA for defamation, and the largest ever to an individual employee.

Harris St. Laurent & Wechsler founding partner Jonathan Harris has now won two of the six largest-ever FINRA awards, cementing the firm’s place as the nation’s premier law firm for FINRA disputes.   

During the 25-day-long hearing, Harris put our client on the stand for five days on direct and examined 9 D.E. Shaw employees and former employees, including two members of D.E. Shaw's executive committee, both of whom were found liable. 

Harris St. Laurent & Wechsler was joined in the representation by outstanding co-counsel Clare Locke LLP and Wallison & Wallison LLP.  

The multi-disciplinary Harris St. Laurent & Wechsler trial team included associate Marilyn Yuan, forensic psychologist Dr. Monica Delgado, along with and firm partners Yonaton Aronoff, Julie Withers and Vanessa Biondo,