Legal News

CMD Partner Ross D. Carmel Wins Over $2.7 Million in Damages, Including Punitive Damages

Press Release – New York, NY – December 12, 2017 – Securities and corporate law firm Carmel, Milazzo & DiChiara LLP announced today that attorney Ross D. Carmel successfully represented four clients in an AAA Arbitration which awarded over $2.7 million dollars in damages.

The underlying case involved four former employees, who were also investors in their employer. The employees alleged that the employer and its principals were engaged in an employment-investment Ponzi scheme, and sought damages for, amongst other things, wages due and fraud.

The decision of the Arbitrator awarded $1,665,210.54 in compensatory damages, which included an affirmative finding of fraud. The decision also awarded an additional $1,109,444.97 in punitive damages. The defendant companies and officers were found jointly and severally liable.

Mr. Carmel has extensive experience representing broker-dealers and individuals, as well as publicly traded and private companies. Mr. Carmel has been recognized as a Super Lawyer, Rising Star.

About Carmel, Milazzo & DiChiara LLP
Carmel, Milazzo & DiChiara LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on the NYSE, NASDAQ and OTCMarkets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA, and other tribunals, as well as State and Federal Courts.

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