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Doscher v. Sea Port Grp. Secs. LLC

FINRA Arbitral Award Confirmed, Not Vacated; Arguments in Vacatur Petition Waived

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DREW DOSCHER,Plaintiff,-v-SEA PORT GROUP SECURITIES, LLC, et al.,Defendants.

*1Petitioner Drew Doscher brings this case against his former employers and colleagues, Respondents Sea Port Group Securities, LLC, Stephen Smith, Michael Meagher, Michael Meyer, The Seaport Group, LLC, Armory Advisers, LLC, Armory Fund, LP, and Seaport V, LLC, seeking to vacate in part and modify in part an arbitration decision by the Financial Industry Regulatory Authority (“FINRA”). Although the arbitrators awarded Doscher $2,289,774, he principally contends that a portion of the decision should be vacated based on their failure to enforce certain discovery-related orders. Secondarily, he asserts that another portion of the decision should be modified. For the reasons that follow, the Petition is denied in its entirety.BACKGROUNDFrom 2009 to 2013, Doscher worked for the Seaport Group, LLC and its broker-dealer, Sea Port Group Securities, LLC (together, “Seaport”), both of which are members of FINRA. (Docket No. 17 (“First Merolla Decl.”), Ex. 27 at 12, 16; see id., Ex. 2 (“Statement of Claim”)

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