FINRA DR No. 12-02533
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.
FINRA DR No. 10-05361
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.
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.
FINRA DR No. 07-00440.
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.
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.
FINRA DR No. 04-00479
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.
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.
FINRA DR No. 09-05253
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.
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.
FINRA DR No. 11-03025
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.
