Will Ferrel Not as Fortunate as Larry Hagman

We recently reported that Larry Hagman, the actor best known for his role as J.R. Ewing on the TV show “Dallas”, was awarded nearly $12 million by a Los Angeles FINRA arbitration panel. The award was composed of $1.1 million in compensatory damages, $10 million in punitive damages, $460,000 for attorneys’ fees, $20,000 for costs and experts and $10,000 in forum fees for arbitration. The $10 million in punitive damages is to be paid to a charity of Mr. Hagman’s choice. (FINRA# 09-03251; Larry Hagman v.Citigroup Global Markets, Inc.)

Unfortunately for Will Ferrell, he did not come out as well in his arbitration claim. Mr. Ferrell, along with Viveca Paulin, Matt Lichtenberg and the David Living Trust, had their claim denied by a FINRA arbitration panel in Los Angeles on November 12, 2010. That is not the worst part. To add insult to injury, the panel ordered Mr. Ferrell and the other claimants to pay $600,000 in costs and attorneys’ fees to J.P. Morgan Securities, L.L.C., $22,500 for discovery abuse and failure to comply with discovery rules and procedures and $12,000 in forum fees for arbitration. (FINRA #08-02874; Matt Lichtenberg, David Living Trust, Will Ferrell and Viceca Paulin v. J.P. Morgan Securities, L.L.C., f/k/a Bear, Stearns & Company, Inc.)

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