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Stephens Gets $18.2M Arbitration Win Against Ben Edwards Over Poaching  

Tuesday, Feb 01 2022
Regulatory & Compliance
Written by  PFA News

Stephens, Inc. was awarded nearly $18.2 million in an arbitration claim against Benjamin F. Edwards & Company. So reports Advisor Hub.

gavel 3576932 640smallStephens accused competitor Benjamin F. Edwards & Company of poaching four of the six advisors from its Jonestown, Arkansas branch in less than a year. The raid caused severe economic harm and showed predatory intent, according to Stephens.

The award included almost $11 million in compensatory damages, $5 million in punitive damages, plus attorneys’ fees. Of the punitive damages, $2 million was assessed to CEO Tad Edwards and $1 million to advisor Malcolm A. Peeler.

Read the full article from Advisor Hub.

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