Published On: October 12, 2015

A former Merrill Lynch adviser, Charles Doraine, recently lost a $35 million arbitration case seeking damages for libel, that was later withdrawn. A Financial Industry Regulatory Authority (FINRA) arbitration panel found the withdrawn complaint was based on misinformation. Some claim Merrill Lynch solicited the complaint from the client, as evidenced by two emails from the client. Doraine sought damages for tortious interference with prospective relations, intentional infliction of emotional distress, libel and conspiracy. The panel ruled that the customer had no personal knowledge of the allegations that she made, ruled the panel.

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