A day after New York’s top court (New York Court of Appeals) vacated, for lack of jurisdiction, a $1.3 million state court judgment obtained by the National Association of Securities Dealers, Inc. (NASD) (now known as the Financial Industry Regulatory Authority, Inc. (FINRA)) against GKB&N clients based on a disciplinary award, GKB&N today filed a federal court action against FINRA seeking a declaration that FINRA cannot collect the disciplinary fine.

Fiero v. Financial Industry Regulatory Authority, Inc., Case No. 08-cv-1298 (S.D.N.Y.).