Expert witness John Maine, who frequently appears and testifies on behalf of Respondent brokerage firms in Financial Industry Regulatory Authority (FINRA) arbitration, was attacked by the Madoff Trustee. Maine, who was testifying on behalf of Met owners Fred Wilpon and Saul Katz, described them as unsophisticated investors despite their massive real estate holdings and substantial wealth. Trustee Irving Picard in turn said Main, the expert witness, issued a report that lacked “any principle or methodology” and cited no surveys, sources, books, treatises, industry guides, periodicals, studies or any other objective third party analysis” (see NY Times article dated Jan. 27, 2012).
These revelations are not insignificant as John Maine has built a substantial expert witness practice, primarily on the defense side, in the securities industry. He has been retained over 1600 times and testified over 600 times. Surely Claimants’ lawyers are licking their chops at the thought of Maine appearing in their next arbitration hearing.
The attorneys at Colling Gilbert Wright & Carter has a practice area devoted exclusively to filing arbitration claims on behalf of individual investors who have lost money through the negligence or fraud on the part of their financial advisor. If you have lost money in your brokerage account and believe your broker may be responsible, please contact our office for a free case evaluation.