NASD arbitration award by default confirmed
A US District Court has confirmed an arbitration award entered in an NASD arbitration in unusual circumstances: Petitioner failed to present any evidence in an attempt to force a postponement of the final hearing. The Panel denied the request for a postponement, at which time counsel for Petitioner left the hearing. The Panel reconvened the next day to permit Petitioner to offer evidence, which it failed to do. The Panel later dismissed the claims for lack of evidence. The Court found that Petitioner's failure to proceed was not misconduct by the Panel. Kober v. Kelly, Case No. 06-3341 (USDC S.D.N.Y. July 18, 2006).
