Two Claimants Also Held Liable for $22,500 in “Discovery Abuses.”
Larry Hagman, who played the infamous J.R. on the T.V. show Dallas, sued Citigroup for securities trading claims, garnering an award of $1.1 million in compensatory damages and $10 million in punitive damages to be donated to charities of his choice.
Other actors have not fared as well as Mr. Hagman when it comes to suing in this area.
Recently, as reported in a November 18, 2010 post on forbes.com, visible funny man Will Ferrell and Curb Your Enthusiasm’s Larry David had securities claims against Bear Stearns/J.P. Morgan for unauthorized/unsuitable securities purchases dismissed in an arbitration by the Financial Industry Regulatory Authority. But there was a big ouch associated with the dismissal. Messrs. Ferrell and David had to reimburse J.P. Morgan for $600,000 of its attorney’s fees. Also, these two gentlemen also were found liable for $22,500 in “discovery abuses,” although we are unclear if this was assessed against them personally, their attorneys, or both.
Looks like J.R., by far, did the best in prosecuting his claims for unauthorized securities trading.