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Will Ferrell And Larry David Lose Case Against JPMorgan!

| Filed under: Icky Icky PooLegal MattersWill FerrellBusiness Blitz

will-ferrell-and-larry-david-fined-after-losing-case-against-jpmorgan

Ouch!

Will Ferrell and Larry David have both not only lost an $18 million arbitration case against JPMorgan, but were in return fined $634,000 for "discovery abuse and failure to comply with the forum's discovery rules!"

The two funnymen were aiding business manager Matt Lichtenberg in his case against the brokerage firm, claiming "unathorized and unsuitable purchases of unspecified preferred securities," but the Financial Industry Regulatory Authority, which handles their complaints, ruled against them!

In FINRA's decision letter, they explained:

"After three motions to compel discovery by [JPMorgan] and three orders from the panel, [members of Lichtenberg's team] were still supplying ordered documents on the afternoon of the second day of the evidentiary hearing."

David and Ferrell must also pay $600,000 to JPMorgan for legal fees and $12,000 for arbitration costs.

Double ouch!

[Image via WENN.]

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3 comments to “Will Ferrell And Larry David Lose Case Against JPMorgan!”



  1. 1

    Larry David has Seinfeld money. I'm sure he'll be okay.



  2. 2

    They tried to fight the *Too Big To Fail* bunch, and lost. Are you shocked???

  3. @v@ says – reply to this


    3

    This wasn't decided in a court. This was decided by a Financial Industry Regulatory Authority arbitration panel. Who is surprised.