Nalasco v. Buckman, Buckman & Reid, Inc.

This is an appeal from a $22,000 attorney’s fee judgment in favor of the prevailing parties in a securities arbitration case. Counsel for the prevailing parties sought fees in the neighborhood of $300,000. The prevailing parties have appealed, arguing, among other things, that the findings in the judgment are inadequate. We agree and thus reverse the fee judgment, for this reason and for others, as discussed below.

The Underlying Case & the Attorney’s Fee Judgment

This appeal has its genesis in the arbitration of a $30,000 securities claim brought by the Nalascos against their broker, Buckman,…