FINRA DR No. 12-02841
Unanimous Award of $853,338 in favor of a brokerage firm customer whose account had been excessively traded to generate commissions. The Arbitration Panel awarded compensatory damages, punitive damages of double the compensatory damages, plus interest and attorneys’ fees.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
Settlement of $795,000 for a Georgia investor against a major brokerage firm for improper conduct relating to trading in and out of mutual funds and other packaged investment products.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
FINRA DR No. 17-02936
Award of $750,000 in favor of investor Cynthia A. Burch against Huntleigh Securities Corporation, following a successful claim of breach of fiduciary duty, common law fraud, negligence, and misrepresentation. The award included compensatory and punitive damages as well as attorney fees.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
Settlement of $725,000 due to a broker abusing the brokerage account of a disabled child who had received settlement funds due to an injury the child sustained as an infant.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
Settlement of $700,000 for group of investors whose broker misrepresented the risk of various highly speculative real estate ventures which he recommended to his customers.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
Settlement of $700,000 for a New York customer who lost significant funds due to his broker’s speculative and unsuitable option trading strategy.
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.
Settlement of $600,000 in favor of an investor whose broker caused him to lose most of his retirement funds by investing in speculative options.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
FINRA DR No. 12-03721
Unanimous Award of $597,294 for a small group of retirees whose broker made unsuitable and self-serving recommendations regarding variable annuities and non-traded real estate 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. 03-00704
Unanimous Award of $566,832 in favor of a couple due to broker fraud relating to mutual fund switching and improper mutual fund share classes, all designed to generate greater commissions and fees for the broker, knowing that his conduct was detrimental to his customers. Award included punitive damages in the amount of twice the compensatory damages. The Arbitration Panel also held the branch manager as jointly responsible for failure to supervise the broker.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
