25 million from FXCM to return to the investors. 25 million settlement of claims brought by a federal revelation forex appointed Receiver against Forex Capital Markets LLC. The aiding and abetting securities fraud claims were filed against FXCM in the 429th District Court of Collin County, Texas in Cause No. Court records indicate that more than two years ago, Crawford filed claims against FXCM for its alleged role as the broker who opened and serviced the Revelation Forex Fund account for White.
Prior to the settlement, FXCM made motion to have the case arbitrated in New York. FXCM argued Crawford, as the Receiver, had stepped into the shoes of its customer, the Revelation Forex Fund, and was required to arbitrate the claims in New York. The Collin County District Court ruled against FXCM. The company appealed the decision to the Dallas Court of Appeals. 25 million in settlement of the claims.
Stone partners with significant experience in federal court receiverships. Magistrate Jeff Kaplan, now with JAMS, served as the mediator in the dispute. Stone, LLP provides solid counsel to its valued clients by forging innovative legal solutions to build lasting relationships. From its offices in Dallas and Frisco, members of the law firm hold themselves to the highest standards, and embrace the art of going above and beyond the extra mile for their clients. Questions about a news article you’ve read?
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