Imperial Capital Group, LLC Pay $901,567 to Former CEO
Judy Resnick, co-founder and former chairman and chief executive officer of Dabney Resnick Imperial, LLC, a Los Angeles based brokerage firm was awarded $901,567 by an National Association of Securities Dealers (NASD) arbitration panel. The award against Imperial Credit Industries, Inc. (Nasdaq: ICII – news) and Imperial Capital Group, LLC came after more than one year of litigation stemming from the purchase by Imperial Credit Industries, Inc. of Ms. Resnick’s brokerage firm Dabney Resnick Imperial, LLC in May 1997. Among other claims, Ms. Resnick alleged that Imperial defrauded her in its acquisition of the firm. Imperial filed a counterclaim against Ms. Resnick alleging damages of more than $800,000, which was denied in its entirety by the arbitration panel.
Ms. Resnick is the president of The Resnick Group, a Los Angeles based investment advisory firm, an author and lecturer.
Ms. Resnick was represented by Aidikoff & Uhl, a Beverly Hills and Palm Springs, California law firm that represents clients against brokerage firms in securities arbitrations. According to Robert A. Uhl, “awards this large are unusual in securities arbitrations.”