$427,060
FINRA DR No. 12-02533
Estate of Malcolm Schvey v. Janney Montgomery Scott, LLC
Unanimous Award of $427,060 for an estate where an elderly individual had been the subject of financial abuse by his broker. The broker excessively traded securities for the sole purpose of generating commissions, all of which was at the expense of his elderly customer.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$521,615
FINRA DR No. 10-05361
Goodman v. Meyers Associates, Inc.
Unanimous Award of $521,615 for a Tennessee investor whose account was churned by the broker, and the brokerage firm failed to supervise properly. The award included attorneys’ fees, interest, costs and punitive damages.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$312,149
Settlement of $312,149 for losses incurred because the broker recommended a large variable annuity to a retired investor for the purposes of generating large fees.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$539,000
FINRA DR No. 07-00440.
Crutcher v. New England Securities, Inc.,
Unanimous Award for $539,000 for an Illinois investor whose broker stole customer funds through the guise of bogus promissory notes. he award included additional compensation in the form of interest, costs, attorneys’ fees and punitive damages.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$650,000
Settlement of $650,000 for a retired widow whose broker encouraged her to borrow money to invest in speculative investments.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$375,711
FINRA DR No. 04-00479
McDonald v. Stifel, Nicolaus & Co.
Unanimous Award for $375,711 for customers of Stifel Nicolaus whose broker invested the brokerage accounts in speculative securities and leveraged the accounts on margin. The award included additional relief in the form of attorneys’ fees and punitive damages.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$449,000
Settlement of $449,000 for losses incurred due to excessively trading long term products such as mutual funds, closed end funds and unit investment trusts.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$280,683
FINRA DR No. 09-05253
Estate of Lawrence D. Burns
Unanimous Award for $280,683 for an elderly customer who was invested in a fraudulent security. The award was against the brokerage firm for failure to supervise.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$550,000
Settlement of $550,000 against a major brokerage firm for speculative investments for a retiree.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$290,279
FINRA DR No. 11-03025
Umstead v. Nations Financial Group, Inc.
Unanimous Award for $290,279 for a Pennsylvania retired couple whose brokerage account was invested unsuitably and which was excessively traded.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.