Litigation Note: Crowell & Moring Wins Eight-Figure Damages Award for O1 LLC in Arbitration
Washington, D.C. – February 21, 2017: Crowell & Moring obtained a final award in a JAMS streamlined arbitration in favor of client O1 LLC, a commodity trading adviser. The eight-figure damages award, announced on February 17, fully vindicates O1's position.
O1 had entered into two agreements with respondents NEO Markets and NEO Technologies to use their high-frequency trading platform. As a consequence of related disputes between these parties, NEO decommissioned that system. Pursuant to the agreements, O1 filed claims under JAMS' arbitration rules in April and sought damages for breach of contract.
The award follows a four-day evidentiary hearing in Boston late last year. The Crowell & Moring team for O1 included partner Mark Klapow, counsel Gary Stahl, and associate Tyler O'Connor.
Contact(s):
An Pham
Senior Manager, Media, PR & Communications
+1 202.508.8740
Email: apham@crowell.com