The Prosser Firm obtained an $800,000 arbitration award in favor of Raymond James against its former broker, Michael Camferdam. The suit began as an action by Raymond James to collect the approximately $250,000 balance owed by the former broker on his promissory notes. The broker refused to pay and instead responded with counterclaims for wrongful termination and U-5 defamation, among other things. After 12 days of trial, the Panel gave Raymond James a full award – including the complete note balance owed, interest thereon at the 10% per annum note rate and complete attorneys’ fees. The former broker’s claims were denied in their entirety. A link to this Award can be found here.
