Hedge Fund awarded $ 64 M in Merrill case

A hedge fund in Santa Monica, California was the big winner in an arbitration case against Bank of America Merrill Lynch when it was awarded an approximately 64 million dollars by a supervisory authority for this week.

The financial industry regulatory authority ordered BofA Merrill pay Rosen capital advisors 68.9 million dollars on Tuesday, according to a FINRA documents.

Rosen was out for 90 million dollars when it filed an arbitration claim against Merrill Lynch Professional Clearing Corp. in 2009 argues that Merrill had carried out "an unexpectedly wide margin requirements which caused losses in two hedge funds", both operated by Rosen.

Hedge Fund firm had accused Merrill of fraud, negligence, breach of contract, and acting in bad faith ", as in the previous arbitration ruling.

BofA Merrill, plan, according to news reports, to overturn the award settlement.