Stephens Inc. won an $18 Million Award in FINRA Arbitration against Benjamin F. Edwards & Co.

January 27, 2022

On January 21, 2022, Stephens Inc., represented by Daniel Wirth and Joseph Alonso of GDCR
Law, won a FINRA arbitration award against Benjamin F. Edwards, its Chairman and CEO,
Benjamin F. Edwards, IV and four of its financial advisors.

The total award exceeded $18 million dollars, including over $10.9 million in compensatory damages, $5 million in punitive damages, and over $2 million in attorney fees. See Stephens Inc. v. Benjamin F. Edwards & Co. et al., FINRA No. 17-02378. GDCR Law attorneys Daniel Wirth and Joseph Alonso responded:

“We are pleased the FINRA Panel recognized the seriousness of corporate raiding in this case with an appropriate $18 million dollar award and it is an honor to represent Stephens Inc.”

Stephens asserted claims for Raiding, Breach of Contract and violation of the Protocol for
Broker Recruiting among other claims. The Panel majority held in part that discovery sanctions
were appropriate for the destruction of emails and texts and that punitive damages were

GDCR Law attorneys Daniel Wirth and Joseph Alonso have won multiple multi-million-dollar
awards. For more information about their practice, please see