A New Jersey attorney and his law firm have been hit with a legal malpractice suit claiming that they mishandled a client’s Financial Industry Regulatory Authority arbitration, resulting in a costly settlement.

Giordano, Halleran & Ciesla and attorney Matthew Fiorovanti allegedly caused more than $2 million in damages to their clients, Spartan Capital Securities and John Lowry, by mishandling an arbitration before FINRA, according to the suit filed Jan. 20 in the District of New Jersey.