Settlement of $550,000 for an investor who lost funds due to the broker’s failure to invest the customer’s funds in an appropriate and suitable manner.
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. 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 $537,500 for a Missouri elderly retiree whose brokerage account was mishandled and abused by a broker from a major, national brokerage firm.
Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
FINRA DR No. 09-00993
Unanimous Award of $529,467 for a Utah couple, which included interest, costs, attorneys’ fees and interest, against a brokerage firm which engaged in deceptive and fraudulent conduct in its handling of customer funds.
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.
FINRA DR No. 19-01006
Recovered full losses for retiree concentrated in two oil and gas MLPs. These MLPs, Breitburn Energy and Linn Energy made up close to 50% of Mr. Lee’s account. First Kentucky had Mr. Lee sign a letter that he was purchasing more of these stocks against the advice of his broker, however, Oakes & Fosher argued that this was an attempt for First Kentucky to shield itself from liability while really still recommending the stocks. Notably, the Panel awarded the client all his losses on Breitburn and Linn, even those purchases made referenced in the letter. The Panel also awarded the client 1/3 of his compensatory damages back as attorneys fees.
View AwardDisclaimer: 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. 21-02081
Oakes & Fosher recovered all of the losses suffered by a widow. The Dinosaur Financial Group broker put Mrs. Jester’s huband’s retirement accounts in alternative investments. The Jester’s had limited assets and could not afford to lose this retirement money. The net losses suffered by the Jesters were $111,000. The Panel awarded Ms. Jester almost 4 times this amount, which included punitive damages of over $100,000.
View AwardDisclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
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.
