Larry Hagman's Broker Leaves Firm for Wedbush

The embattled broker who was involved in a FINRA arbitration claim filed by Larry Hagman, the actor who played J.R. Ewing in the long running television show “Dallas”, has left Morgan Stanley Smith Barney and moved to Wedbush Securities, Inc., according to an article in Investment News. The broker, Lisa Detanna, was not named as a party in the arbitration which resulted in the panel finding Citigroup (now a part of Morgan Stanley Smith Barney) liable to Larry Hagman and his wife for $1.1 million in compensatory damages plus $439,000 in attorneys’ fees and costs. The panel also awarded $10 million in punitive damges to be paid to a charity of Hagman’s choice by Citigroup. (FINRA# 09-03251; Larry Hagman, et al v. Citigroup Global Markets, Inc.) This month a California judge vacated the award on the basis that one of the three arbitrators failed to make adequate disclosures.

Ms. Detanna, a big time Beverly Hills broker, had been named to “Barron’s Top 100 Women Financial Advisors” for overseeing $1.14 billion in customers’ assets. With a huge book of business and the potential to bring in massive fees for the firm, Wedbush has welcomed her with open arms saying that they had “met about 30 of her clients and they love her.”

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