{"id":1302,"date":"2013-08-21T17:21:48","date_gmt":"2013-08-21T17:21:48","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/08\/finra_news_goldman_sachs_appea"},"modified":"2022-03-10T16:38:18","modified_gmt":"2022-03-10T22:38:18","slug":"finra-news-goldman-sachs-appea","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/","title":{"rendered":"FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, &#038; Three Governors Named To FINRA Board"},"content":{"rendered":"<p>\t\t\t\t<strong>Goldman Sachs Wants Third Circuit To Look at Vacated Arbitration Award<\/strong><\/p>\n<p>Goldman Sachs (GS) wants the U.S. Court of Appeals for the Third Circuit to look at a decision by a lower court to vacate a FINRA securities award issued by a panel member that included arbitrator Demetrio Timban, who was indicted on criminal matters and suspended. The securities case is <em>Goldman Sachs &amp; Co. v. Athena Venture Partners LP<\/em> and involves an investor accusing the firm of making misrepresentations. The U.S. District Court for the Eastern District of Pennsylvania remanded the award, which favored the financial firm. <\/p>\n<p>The district court said FINRA didn&#8217;t give the parties three arbitrators who were qualified and said the respondent&#8217;s rights were prejudiced. Judge J. Curtis Joyner said that therefore, a &#8220;final and definite award&#8221; was not issued. Following the scandal involving Timban, FINRA said it now would perform yearly background checks of arbitrators and other reviews before they are given a case. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/\"  title=\"Continue Reading FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, &#038; Three Governors Named To FINRA Board\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs Wants Third Circuit To Look at Vacated Arbitration Award Goldman Sachs (GS) wants the U.S. Court of Appeals for the Third Circuit to look at a decision by a lower court to vacate a FINRA securities award issued by a panel member that included arbitrator Demetrio Timban, who was indicted on criminal matters [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3798,3774,3752,3739,3754],"tags":[],"class_list":["post-1302","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-broker-dealers","category-financial-firms","category-finra","category-goldman-sachs-1"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, &amp; Three Governors Named To FINRA Board &#8212; Investor Lawyers Blog &#8212; August 21, 2013<\/title>\n<meta name=\"description\" content=\"Goldman Sachs Wants Third Circuit To Look at Vacated Arbitration Award Goldman Sachs (GS) wants the U.S. Court of Appeals for the Third Circuit to look at &#8212; August 21, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, &amp; Three Governors Named To FINRA Board &#8212; Investor Lawyers Blog &#8212; August 21, 2013\" \/>\n<meta name=\"twitter:description\" content=\"Goldman Sachs Wants Third Circuit To Look at Vacated Arbitration Award Goldman Sachs (GS) wants the U.S. Court of Appeals for the Third Circuit to look at &#8212; August 21, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, & Three Governors Named To FINRA Board &#8212; Investor Lawyers Blog &#8212; August 21, 2013","description":"Goldman Sachs Wants Third Circuit To Look at Vacated Arbitration Award Goldman Sachs (GS) wants the U.S. Court of Appeals for the Third Circuit to look at &#8212; August 21, 2013","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/","twitter_card":"summary_large_image","twitter_title":"FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, & Three Governors Named To FINRA Board &#8212; Investor Lawyers Blog &#8212; August 21, 2013","twitter_description":"Goldman Sachs Wants Third Circuit To Look at Vacated Arbitration Award Goldman Sachs (GS) wants the U.S. Court of Appeals for the Third Circuit to look at &#8212; August 21, 2013","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, &#038; Three Governors Named To FINRA Board","datePublished":"2013-08-21T17:21:48+00:00","dateModified":"2022-03-10T22:38:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/"},"wordCount":587,"articleSection":["Arbitration","Broker-Dealers","Financial Firms","FINRA","Goldman Sachs Group, Inc"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/","url":"https:\/\/www.investorlawyers.com\/blog\/finra-news-goldman-sachs-appea\/","name":"FINRA NEWS: Goldman Sachs Appeals Vacating of Securities Award, Non-Customers of Brokerage Firm Can\u2019t Compel Arbitration, & Three Governors Named To FINRA Board &#8212; 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