We represented Duncan-Williams, Inc. in a raiding case against Coastal Securities, Inc., in which our client alleged that Coastal and former Duncan-Williams employees conspired to misappropriate, copy and delete documents in a raid of the Duncan-Williams public finance department. An NASD panel found in favor of Duncan-Williams and awarded the family-owned firm damages totaling more than $6 million, including $2.5 million in compensatory damages against both Coastal and Duncan-Williams' former head of public finance, and $2 million in punitive damages assessed to Coastal alone. Coastal and one of the employees it hired away from Duncan-Williams were also ordered to pay $370,000 in a return of the compensation paid to the individual by Duncan-Williams during the extended period he was alleged to have been conspiring with the Texas firm. Duncan-Williams, Inc. v. Coastal Securities, L.P. et al. (FINRA Case No. 02-01704)
Duncan-Williams is a privately owned investment banking firm headquartered in Memphis, TN.