Rich & Intelisano, LLP represents retail and institutional investors in securities arbitration and litigation against financial firms. Our clients include high net worth individuals, family offices, hedge funds, funds of funds, non-profits and other institutions in claims against brokerage firms, banks, investment advisors and other financial professionals. Partners John Rich and Ross Intelisano have won two of the six largest customer arbitration awards ever rendered against a Wall Street firm. The Firm has a combined 70 years of experience in large and complex securities and commodities fraud cases on behalf of investors worldwide. We also handle international and domestic commercial arbitrations and represent employees in disputes with the financial industry.
In June 2010, Rich & Intelisano won the Bayou v. Goldman Sachs case: a $20.5 million FINRA arbitration award against Goldman Sachs related to the Bayou hedge fund fraud. The 18-day hearing generated a 100% recovery of the compensatory damages requested. It is the largest arbitration award ever rendered against Goldman and the sixth largest customer arbitration award against any Wall Street firm. The award is also the first win in any court or arbitration forum by investors against a clearing or prime broker related to a hedge fund Ponzi scheme based upon fraudulent transfer theories.
In December 2009, the Firm won a $3.4 million arbitration award against Bear Stearns related to the High Grade Structured Credit Strategies hedge funds which blew up in July 2007. It is the first and only reported victory by any High Grade investor and the award was rendered after the criminal acquittals of portfolio managers Ralph Cioffi and Matthew Tannin.
Rich & Intelisano, LLP has pioneered the practice of representing individuals and institutions in group arbitrations related to hedge fund fraud. The Firm presently represents numerous investors in claims against investment advisors and banks for failing to do proper due diligence in their recommendation of Bernard Madoff-related feeder funds. Starting in 2005, the Firm represented investors who lost over $25 million in the $300 million Bayou hedge fund Ponzi scheme run by convicted fraudster Sam Israel. We resolved a multi-million dollar group arbitration against an advisor for failing to do proper due diligence on Bayou.
Mr. Rich and Mr. Intelisano were co-trial counsel in the Engel, et al. v. Refco commodities fraud case at the National Futures Association. The 100-day arbitration on behalf of a group of 13 individuals and family run businesses generated a $43 million award in 2001, which remains the largest collected arbitration award ever rendered on behalf of retail investors against a brokerage firm.
In June 2010, Rich & Intelisano won the Bayou v. Goldman Sachs case: a $20.5 million FINRA arbitration award against Goldman Sachs related to the Bayou hedge fund fraud. The 18-day hearing generated a 100% recovery of the compensatory damages requested. It is the largest arbitration award ever rendered against Goldman and the sixth largest customer arbitration award against any Wall Street firm. The award is also the first win in any court or arbitration forum by investors against a clearing or prime broker related to a hedge fund Ponzi scheme based upon fraudulent transfer theories.
In December 2009, the Firm won a $3.4 million arbitration award against Bear Stearns related to the High Grade Structured Credit Strategies hedge funds which blew up in July 2007. It is the first and only reported victory by any High Grade investor and the award was rendered after the criminal acquittals of portfolio managers Ralph Cioffi and Matthew Tannin.
Rich & Intelisano, LLP has pioneered the practice of representing individuals and institutions in group arbitrations related to hedge fund fraud. The Firm presently represents numerous investors in claims against investment advisors and banks for failing to do proper due diligence in their recommendation of Bernard Madoff-related feeder funds. Starting in 2005, the Firm represented investors who lost over $25 million in the $300 million Bayou hedge fund Ponzi scheme run by convicted fraudster Sam Israel. We resolved a multi-million dollar group arbitration against an advisor for failing to do proper due diligence on Bayou.
Mr. Rich and Mr. Intelisano were co-trial counsel in the Engel, et al. v. Refco commodities fraud case at the National Futures Association. The 100-day arbitration on behalf of a group of 13 individuals and family run businesses generated a $43 million award in 2001, which remains the largest collected arbitration award ever rendered on behalf of retail investors against a brokerage firm.
Current Matters and Investigations
Securities Fraud Attorney Blog
- Brooklyn Law School Mag Features Ross Intelisano Below is a profile of Ross Intelisano from the Spring 2010 edition of the Brooklyn Law School Magazine BLSLaw Notes. BLSLawNotes The Magazine of ....
- Goldman Must Pay Some Bayou Losses - New York Times Below is a New York Times Piece about Bayou v. Goldman Sachs Goldman Must Pay Some Bayou Losses By LOUISE STORY and GRETCHEN MORGENSON Goldman Sachs ....
- Goldman Told to Pay Bayou Fund Creditors - WSJ Below is the Wall Street Journal piece regarding Bayou v. Goldman Sachs. JUNE 26, 2010 Goldman Told to Pay Bayou Fund Creditors By SUSANNE CRAIG ....