Attorney Robert Pearce’s Proven Results for Investors

Attorney Robert Pearce has represented hundreds of investors over his 40 year career and in the last 20 years alone recovered over $100 million for his investor clients. Mr. Pearce has recovered funds for over 99% of his investor clients through court litigation, arbitrations and settlements. Attorney Pearce has tried over 100 cases to trial verdict or arbitration award and only lost 4 cases for investors in his career.

No attorney representing investors in South Florida has more experience or proven results than Mr. Pearce. A partial history of Attorney Pearce’s results for investors is listed below:

Federal Court Final Judgment $21,041,285

Case No.  1:10-cv-21444-KMM

College Health and Investment, Ltd. v Esther Spero

This Final Judgment was entered against the defendant for fraud, breach of fiduciary duty, and civil theft pursuant to Sections 812.014 and 772.11, Florida statutes in 2010.

FINRA Arbitration Settlement $7,840,000

This FINRA arbitration involved a complex options trading strategy in the oil and gas sector for a Brazilian holding company against one of the largest Midwest broker-dealers in United States and resolved through mediation on the eve of trial in 2010.

FINRA Arbitration Settlement $6,000,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved over-concentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled midway through the arbitration proceeding in 2017 for $6 million even though the broker-dealers claimed the clients’ accounts had received millions of dollars in profits over many years.

FINRA Arbitration Award $5,887,498

Case No. 17-02354

Jose E. Blanco Garrido, et al. v. UBS Financial Services Inc. of PR, et al.

This FINRA arbitration against UBS Financial Services, Inc. and UBS Financial Services Inc. of Puerto Rico involve the overconcentration of Mr. Blanco’s family’s assets in Puerto Rico municipal bonds and closed-end bond funds.  The arbitrators awarded substantially all of the Blanco family losses and over $1.5 million prejudgment interest and all of the litigation expenses, $170,000, arising out of an unsuitable recommendation to “hold” their Puerto Rico securities in the fall of 2012 when market conditions were perilous. The arbitration award was entered in favor of the Blanco family after 40 hearing sessions in 2019. 

Federal Court Class Action Settlement $4,300,000

Case No.  14-001695-CI

State of Florida, Office of Financial Regulation v. Tri-Med Corp., et al.

Mr. Pearce represented the investors as co-counsel with the Receiver in a class action against the accounting and legal professionals for allegedly aiding and abetting a Ponzi scheme.  After removal from state to Federal court and several years of litigation, the lawsuit was resolved in 2017 through mediation and the payment of more than $4.3 million to the receivership for the investors benefit by the law and accounting firms.

Florida State Court Settlement $3,500,000

This $3.5 million settlement was in a state court action filed by Mr. Pearce on behalf of a trust for an elderly widow was against one of the largest corporate trustees in the country.  The corporate trustee allegedly failed to diversify a concentrated portfolio in a single stock during the 2008-2009 financial market meltdown.  The case was settled in 2010 for substantially all of the widow’s losses she was entitled within the short six-month statutory window for bringing a claim against trustees and Florida.

FINRA Arbitration Settlement $3,350,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated and overleveraged their accounts in Puerto Rico municipal bonds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  The case settled on the eve of the arbitration hearing in 2018. 

FINRA Arbitration Award $3,266,200

Case No. 90-01044

Jack Friedlander, et al. v. Margaretten Securities

This arbitration involved misrepresentations and unsuitable recommendations that Claimants invest in complex structured products consisting of stripped coupon mortgage-backed securities and pass through certificates.  The Claimants were awarded punitive damages and attorney fees and expenses.

FINRA Arbitration Award $2,752,049

Case No. 10-03554

College Health and Investment, Ltd. v Wells Fargo Advisors LLC

This FINRA Arbitration by College Health against Wells Fargo Advisors followed a Federal court proceeding for aiding and abetting the defendant in that case in the theft of funds from the family holding company’s brokerage account at the firm.

FINRA Arbitration Settlement $2,500,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019.

FINRA Arbitration Settlement $2,450,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled at the 11th hour before the arbitration proceeding in 2019.

FINRA Arbitration Settlement $2,300,000

This FINRA Arbitration involved a Puerto Rico investor who claimed her Puerto Rico broker-dealer overconcentrated her accounts in Puerto Rico municipal bonds and closed-end bond funds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  The case settled in 2017 for an amount far in excess of what the broker-dealer claimed to be her damages.

Florida Probate Court Settlement $1,900,000

In this Probate court matter, Attorney Pearce represented several family members in a lawsuit against legal and financial professionals and others for their undue influence over an elderly person in conveying his investments and other assets prior to his death.  The suit was settled during a mediation in 2007 for $1.9 million.

FINRA Arbitration Award $1,817,296

Case No. 09-02697

Gerald J. Kazma, et al. v. Citigroup Global Markets, Inc., et al.

The Kazma Family filed an arbitration claim against Citigroup Global Markets, Inc. for losses arising out of a complex municipal arbitrage structured products commonly known as the MAT/ASTA products which were allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.  Mr. Pearce represented scores of investors in connection with the failed MAT/ASTA structured product debacle.

FINRA Arbitration Settlement $1,513,000

This FINRA Arbitration involved a Puerto Rico investor who claimed her Puerto Rico broker-dealer overconcentrated her accounts in Puerto Rico municipal bonds and closed-end bond funds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019 for an amount far in excess of what the broker-dealer claimed to be her damages.

FINRA Arbitration Award $1,450,000

Case No. 14-01541

Christel Marie Bengoa Lopez v UBS Financial Services, Inc., et al.

This FINRA arbitration against UBS Financial Services, Inc. and UBS Financial Services Inc. of Puerto Rico involved the overconcentration of Ms. Bengoa’s assets in Puerto Rico municipal bonds and closed-end bond funds pledged against a line of credit.  In 2013 and thereafter, the financial advisor made multiple “hold” recommendations when it was clearly unsuitable to do so.  The arbitrators awarded Ms. Bengoa seven figures, including attorney’s fees and all of her litigation expenses in 2016, even though the brokerage firms argued her account had no net out-of-pocket damages.

FINRA Arbitration Settlement $1,400,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $1.4 million even though the broker-dealer claimed the clients’ accounts had over a millions dollars in profits.

FINRA Arbitration Settlement $1,300,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations by the broker-dealers when they knew market conditions were perilous.  The case settled in 2019 for $1.3 million even though the broker-dealer claimed the clients’ accounts had millions dollars in profits.

FINRA Arbitration Settlement $1,250,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations by the broker-dealer when they knew market conditions were perilous.  The case settled in 2017 for $1.25 million even though the broker-dealer claimed the clients’ accounts had hundreds of thousands of dollars in profits.

FINRA Arbitration Settlement $1,200,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $1.2 million even though the broker-dealers claimed the clients’ accounts had hundreds of thousands of dollars in profits.

FINRA Arbitration Settlement $1,200,000

This FINRA arbitration was settled for $1.2 million by a major Wall Street firm in 2009 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $1,116,700

This FINRA arbitration was settled for over $1.1 million by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.

FINRA Arbitration Settlement $1,100,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when they knew market conditions were perilous.  The case settled in 2020 for $1.1 million.

FINRA Arbitration Settlement $1,100,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when they knew market conditions were perilous.  The case settled in 2020 for $1.1 million.

FINRA Arbitration Award $1,030,909

Case No. 03-06176

Gary A. Friedman, et al. v. Merrill Lynch Pierce Fenner & Smith, Inc.

This case arose out of the underwriting for stock ratings scandal involving Merrill Lynch’s brokerage and investment banking divisions during the 2000-2002 stock market crash.  The arbitrators not only awarded compensatory damages to Mr. Friedman but punitive damages against the firm for knowingly publishing false ratings that investors would rely upon in making their investment decisions.

FINRA Arbitration Settlement $1,025,000

This FINRA arbitration was settled for over $1 million by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $950,000

This FINRA arbitration was settled for $950,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.

FINRA Arbitration Settlement $950,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved over-concentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled at the end of the arbitration proceeding in 2017 for $950,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits over many years.

FINRA Arbitration Settlement $925,000

This FINRA arbitration was settled for $925,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.

Pre-FINRA Arbitration Settlement $925,000

This was one of those rare cases where a pre-arbitration filing settlement was achieved with a major independent broker operation.  The underlying case arose out of a rogue broker’s misrepresentations, mismanagement, selling away and misappropriation of funds from multiple clients in the Midwest.

It was settled by the group for $925,000 in 2014 prior to the filing of the arbitration claim.

FINRA Arbitration Settlement $900,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019 for $900,000.

FINRA Arbitration Settlement $875,000

This FINRA arbitration was settled for $925,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.

FINRA Arbitration Settlement $850,000

This FINRA Arbitration involved a Puerto Rico education institution that claimed its Puerto Rico broker-dealer overconcentrated and overleveraged its account in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2018 for $850,000 despite the broker-dealers argument the school profited from these investments over many years.

FINRA Arbitration Settlement $840,000

This FINRA Arbitration involved an elderly Puerto Rico widow who claimed her Puerto Rico broker-dealers overconcentrated her accounts in Puerto Rico municipal bonds on margin and further made an unsuitable recommendation to “hold” those positions when they knew market conditions were perilous.  The case settled in 2017 for $840,000 with the three firms who blamed one another for the damages suffered.

Florida State Court Settlement $775,000

This case was filed by a small business that deposited its cash reserves to be managed by a corporate trustee and investment advisory firm on a short term basis since it was earmarked for expansion purposes.  Instead, the major Florida bank, who the business entrusted its savings to manage conservatively for a fee, speculated in technology and other stocks during the stock market bubble in the 2000-2002 time period.  In a bitterly fought state court action, the bank finally agreed in 2004 at mediation to pay the business the $775,000 it lost due the mismanagement of the business account.

FINRA Arbitration Settlement $775,000

This FINRA arbitration was settled for $925,000 by a major Wall Street firm in 2009 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.

FINRA Arbitration Settlement $775,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved over-concentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled at the end of the arbitration proceeding in 2017 for $775,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits over many years.

FINRA Arbitration Settlement $750,000

This FINRA Arbitration involved a couple that claimed their Puerto Rico broker-dealer overconcentrated their account in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2020 for $750,000 despite the broker-dealers argument the couple profited from these investments over many years.

FINRA Arbitration Settlement $750,000

This FINRA arbitration was for negligence by a major Wall Street brokerage involving a merger and failure to sell a technology stock received in connection with that merger.  The case was settled during a mediation in 2005 for $750,000.

FINRA Arbitration Settlement $750,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled just before the arbitration proceeding in 2019 for $750,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits over many years.

FINRA Arbitration Settlement $725,000

This FINRA arbitration involved a group of investors who held accounts with a small broker-dealer and investment advisory firm.  The investors alleged that their financial advisor who managed their accounts “cherry picked” many of the profitable transactions for himself at the end of the trading day to their detriment.  It settled in 2009 for $725,000 in a rare case with contributions from the small firms clearing broker.

FINRA Arbitration Settlement $700,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled just before the arbitration proceeding in 2018 for $700,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits over many years.

FINRA Arbitration Settlement $685,000

This FINRA arbitration was filed by a group of investors against an independent brokerage firm operation with office throughout the United States for failing to do its due diligence in connection with several oil and gas limited partnerships.  It took an interesting twist and turn when the broker dealer filed a motion to dismiss under the FINRA 6 year Eligibility Rule thinking that would end the case. Instead, Attorney Pearce and the investors crafted a class action complaint to be filed if the brokerage did not settle the dispute which it did in 2016 for $685,000.

Florida State Court Judgment $669,931

Case No. 50 2013 CA 012367 XXXX MB

C. Adams Moore v Jeffrey M Bell, et al.

This lawsuit involved the solicitation of Florida investor to make a “guaranteed” investment in a mortgage funding business which failed.  Attorney Pearce obtained a Summary Judgement and quickly garnished assets located in the State of Washington before a bankruptcy proceeding was filed by the promoter and his businesses.  This Judgment and Garnishment then became the subject of a bankruptcy proceeding which was finally resolved by payment of the garnishment proceeds to Mr. Moore.

FINRA Arbitration Award $662,190

Case No. 14-00657

Said Mudafort Farah v UBS Financial Services Incorporated of PR

This was just the second of scores of FINRA arbitration against UBS Financial Services, Inc. and UBS Financial Services Inc. of Puerto Rico that went to a final hearing.  It  involved the overconcentration of Mr. Mudafort’s assets in Puerto Rico denominated municipal bonds and closed-end bond funds and unsuitable “hold” recommendation in March 2013 when the broker dealers knew market conditions were perilous.  The arbitrators awarded Mr. Mudafort $662,190 in 2015 even though the brokerage firms argued his account had hundreds of thousands of dollars in profits; i.e., no net out-of-pocket damages.

FINRA Arbitration Settlement $625,000

This FINRA arbitration was settled for $625,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.  It was the first of these municipal arbitrage cases tried in the United States and went so well that at the end of the case the broker dealer paid a substantial settlement to avoid what it perceived to be a dangerous precedent for settlement of future cases.

FINRA Arbitration Settlement $575,000

This FINRA arbitration was settled with a family of investors for $575,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $573,200

Case No. 91-02022

Cheri Brown v American Capital

This arbitration involved the offer and sale of penny stocks and other securities that were not registered and offered and sold through misrepresentations and omissions in a manipulated market.  The Arbitration Panel found numerous sales practice violations under Florida securities statutes in awarding $573,000 to Ms. Brown.

Pre-Suit Settlement $565,342

This case involved the fraudulent sale of equity indexed annuities to an elderly investor with diminished capacity by an insurance agent in Florida.  Attorney Pearce was able to negotiate the repurchase of all the annuities by the issuer for full value without firing a shot in court.

FINRA Arbitration Settlement $550,000

This FINRA arbitration filed against to broker-dealers arose out of the offer and sale of concentrated positions in penny stocks by a salesman who moved from one firm to another and encouraged the investor to “hold” the securities, in a margin account as they steadily declined in value.  Eventually, the investor was forced to liquidate all of the securities and realize his losses.  It settled in 2016 for $550,000 with contributions from both broker-dealers.

FINRA Arbitration Award $545,500

Case No. 90-02875

Larry Witte, as Guardian of Teresa Bill v. Raymond James & Associates, Inc.

This arbitration involved a Raymond James stockbroker who misrepresented and made unsuitable recommendations to an elderly incompetent widow that she invest in options and illiquid limited partnerships in violation of the Florida securities and civil theft statutes.  The total award of $545,000 included rescission of the limited partnership investments under 517.211, Fla. Stat., treble damages for violation of the civil theft statute 772.11, Fla. Stat. and attorney fees.

FINRA Arbitration Settlement $510,000

This FINRA arbitration was settled with a family investment holding company for $510,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $500,000

This FINRA arbitration involved unsuitable recommendations, misrepresentations and mismanagement of two elderly investors trust accounts by an investment advisor of a major Wall Street brokerage.  It was settled for $500,000 in 2004 with the successor trustee on behalf of the husband who died while the arbitration was pending and his survivor wife of 60 years.

FINRA Arbitration Settlement $500,000

This FINRA arbitration was settled with a family investment holding company for $500,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $499,000

This FINRA arbitration involved a misrepresented financial plan to allocate the investor’s assets in a diversified portfolio.  Instead, the salesperson made unsuitable investments and churned the investor’s accounts and caused substantial damages which were fully recovered in a settlement in 2005 for just under a half of a million dollars.

FINRA Arbitration Settlement $490,000

This FINRA Arbitration involved an elderly Puerto Rico widow who claimed her Puerto Rico broker-dealers overconcentrated her accounts in Puerto Rico municipal bonds and closed-end bond funds and further made an unsuitable recommendation to “hold” those positions when they knew market conditions were perilous.  The case settled in 2018 for $490,000 with the two affiliated brokerage firms for substantially all of the damages suffered.

FINRA Arbitration Settlement $475,000

This arbitration was filed by a family residing in Costa Rica, on behalf of their mother’s investment holding company, against the major Wall Street brokerage firm with operations throughout Central America.  The family was given a financial plan to grow their investments for their retirement.  But the financial advisor did not adhere to the plan recommended and instead invested in technology stocks which crashed during the 2000-2002 time period.  The investors were able to recover substantially all of their investment losses, $475,000, at mediation in 2007. 

FINRA Arbitration Settlement $467,000

This FINRA arbitration was settled with a husband and wife for $467,000 by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $460,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved over-concentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled just before the arbitration proceeding in 2019 for $460,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits over many years.

Florida State Court Settlement $450,000

This lawsuit filed in Florida state court against several defendants for fraudulently misrepresenting an investment in a gold and silver mine to an elderly investor with diminished capacity.  The Defendants settled by agreeing to make payments on an installment basis for substantially all of the damages suffered.  The settlement includes a “hammer provision” to deter defendants from defaulting on their obligation.

FINRA Arbitration Settlement $445,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of accounts in Puerto Rico municipal bonds and closed-end funds involving a credit line and a margin account and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous.  It settled just before the arbitration proceeding in 2019 for $445,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits over many years.

FINRA Arbitration Settlement $437,000

This FINRA Arbitration involved a Puerto Rico investor who claimed his Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019 for $437,000.

FINRA Arbitration Settlement $435,000

This FINRA arbitration was settled with a family for $435,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $431,000

This FINRA arbitration was settled with an individual investor for $431,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $425,000

This FINRA arbitration was filed, tried and settled midway during the arbitration proceeding.  It involved unsuitable investment recommendations and churning of the customer’s account by a rogue broker.  Investor recovered substantially all of her losses, $425,000, in 2011 when this case settled.

FINRA Arbitration Settlement $425,000

This FINRA arbitration involved a Private Placement securities transaction that was misrepresented by the broker dealer and its financial advisor.  The broker dealer failed to do its due diligence and discover material facts which would have deterred any investor from purchasing the participation units and promissory notes sold to this investor.  The brokerage firm settled this dispute during a mediation in 2015 for substantially the entire amount of the investment, $425,000.

FINRA Arbitration Settlement $422,000

This FINRA arbitration was settled with an individual investor for $422,000 by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $412,605

This FINRA arbitration was settled with an individual investor for $412,605 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $410,000

This FINRA arbitration involved a Private Placement securities transaction that was misrepresented by the broker dealer and its financial advisor.  The broker dealer failed to do its due diligence and discover material facts which would have deterred any investor from purchasing the participation units and promissory notes sold to this investor.  The brokerage firm settled this dispute during a mediation in 2013 for substantially the entire amount of the investment.

FINRA Arbitration Settlement $410,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2017 for $410,000 even though the broker-dealer claimed the clients’ accounts had over a millions dollars in profits.

Florida State Court Settlement $407,500

This $407,500 million settlement was in a state court action filed by Mr. Pearce against a Canadian brokerage that was offering and selling securities in Florida without being licensed.  It involved proceedings in Canada and Florida and Appellate courts. It ultimately led to the legislature enacting an exemption for Canadian brokerages but not until Mr. Pearce client was paid for what was evidently a violation of the Florida securities statutes at the time.

FINRA Arbitration Settlement $400,000

This FINRA arbitration was settled with an individual investor for $400,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $386,600

Case No. 90-00108

Weiss v. Profile Investments, Inc.

This arbitration involved Profile Investment stockbrokers who misrepresented and made unsuitable recommendations to an elderly gentlemen to invest in stocks and warrants in violation of the Florida securities and civil theft statutes. The total award of $386,000 included damages under 517.211, Fla. Stat., treble damages for violation of the civil theft statute 772.11, Fla. Stat. and attorney fees.

FINRA Arbitration Settlement $385,000

This FINRA Arbitration involved a Puerto Rico investor who claimed her Puerto Rico broker-dealer overconcentrated her account in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2020 for $385,000 despite the broker-dealers argument she profited from these investments over many years.

FINRA Arbitration Settlement $380,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer over-concentrated and overleveraged their accounts in Puerto Rico municipal bonds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  The case settled on the eve of the arbitration hearing in 2018. 

FINRA Arbitration Settlement $360,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2018 for $360,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits.

FINRA Arbitration Settlement $350,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2017 for $350,000 even though the broker-dealer claimed the clients’ accounts had over a hundred thousand dollars in profits.

FINRA Arbitration Settlement $347,500

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2015 for $347,000.

FINRA Arbitration Settlement $341,601

This FINRA arbitration was settled with an individual investor for $341,601 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $323,195

This FINRA arbitration was settled with an individual investor for $323,195 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $320,000

This FINRA arbitration was settled with an individual investor for $320,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $314,000

This FINRA arbitration was settled with an individual investor for $314,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $312,500

This FINRA arbitration involved unsuitable investment recommendations and excessive trading otherwise known as churning of the investors account by the same broker at two different brokerage firms.  One brokerage paid the investor $162,500 and the other paid $150,000 after a mediation that occurred in 2012 for a total settlement of $312,500.

Pre-FINRA Arbitration Settlement $312,000

This case arose out of a rogue broker’s misrepresentations, mismanagement, selling away and misappropriation of funds from multiple clients in the Midwest.  It was settled by the group for $312,000 in 2015 prior to the filing of the arbitration claim.

Florida State Court Settlement $300,000

This Florida state court action involved the collection of, a promissory note which served as a guarantee of an investment.  The dispute was settled after a Final Judgments was received and garnishment actions were instituted against 3rd parties related to the defendant.

FINRA Arbitration Settlement $300,000

This case was filed by a retired investor who deposited his savings with a major Florida bank to manage for a fee in a retirement program.  Instead, the bank officer speculated in technology and other stocks which crashed during the stock market bubble in the 2000-2002 time period.  In a bitterly fought state court action, the bank finally agreed in 2006 at mediation to pay the investor the $300,000 he lost due the mismanagement of the retirement account.

FINRA Arbitration Settlement $300,000

This FINRA arbitration was settled with an individual investor for $300,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $300,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2016 for $300,000.

FINRA Arbitration Settlement $300,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer over-concentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019.

FINRA Arbitration Settlement $295,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer over-concentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2020.

FINRA Arbitration Award $287,500

Case No. 91-01913

Leung v Wakefield Financial, Inc.

This arbitration involved Wakefield Financial stockbrokers who misrepresented and made unsuitable recommendations to investors in connection with an option trading program in violation of the Florida securities.  The total award of $287,500 included damages under 517.211, Fla. Stat. and attorney fees.

FINRA Arbitration Settlement $286,000

This FINRA Arbitration involved a novice Puerto Rico investor who won the lottery.  After she deposited her winnings with Puerto Rico broker-dealer, the financial advisor over-concentrated and overleveraged her accounts in Puerto Rico municipal bonds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  Shortly thereafter, the account was forcibly liquidated to meet margin calls.  The case settled on the eve of the arbitration hearing in 2015 at mediation. 

FINRA Arbitration Settlement $283,500

This FINRA arbitration was settled with an individual investor for $283,500 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $275,000

Case No.  03-03539

Michael A. and Joann Collegio v Morgan Stanley DW, Inc.

This investor suffered a broken neck and back and received the lawsuit settlement.  She then proceeded to invest with Morgan Stanley.  The investor had no experience investing in the stock market.  The Morgan Stanley financial advisor recommended dividing the lawsuit proceeds into several counts managed by different portfolio managers to safeguard the principal, and generate income for the injured investor.  Instead of doing what was promised, the assets were concentrated in aggressive growth stocks whose market capitalizations were collapsing and not generating any dividend income.  To further compound the risk, the Morgan Stanley financial advisor recommended that this paralyzed man purchase a home with a mortgage pledged against the assets in his brokerage account.  As the technology market collapsed, margin calls were issued and the securities in the brokerage account were liquidated to meet those calls.  The arbitrators entered an award in 2004 for the $275,000 loss due to the unsuitable recommendations.

FINRA Arbitration Award $273,800

Case No. 03-04168

Nancy Stafford-Myers v Janney Montgomery Scott, LLC

This arbitration involved misrepresentations and unsuitable investments in connection with a JMS wrap fee account and private placement transaction in violation of the Florida securities statutes.  The Arbitration Panel made a full award under the securities law statutes to this TV and movie star with expert witness fees in the amount of $273,800.  In addition, the arbitrators awarded attorney fees the amount of which was settled confidentially and paid in full by Respondent JMS.

FINRA Arbitration Settlement $270,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2015 for $270,000 even though the broker-dealer claimed the clients’ accounts had over a hundred thousand dollars in profits.

FINRA Arbitration Settlement $260,000

This FINRA arbitration was settled with an individual investor for $260,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $257,000

Case No. 92-00340

Koppel v JW Charles, Inc.

This arbitration involved misrepresentations and unsuitable investments in connection with an option trading strategy in violation of the Florida securities statutes.  The Arbitration Panel made a full award, including attorney fees, under the securities law statutes to this investor in the amount of $257,000.

FINRA Arbitration Settlement $251,099

This FINRA arbitration was settled with an individual investor for $251,099 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $250,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2020 for $250,000 even though the broker-dealer claimed the clients’ accounts had tens of thousands of dollars in profits.

Pre-Suit Settlement $250,000

This case was settled during the course of a pre-suit mediation between a young widow and her deceased husband’s accountant of many years.  The accountant was also a registered investment adviser.  He recommended an unsuitable insurance-based retirement program and the improper asset allocation and mismanagement of a discretionary account and received $168,000 in undisclosed commissions.  Our client received back the undisclosed commission and more in a settlement at the 2006 mediation.

FINRA Arbitration Settlement $240,000

This FINRA arbitration was settled with an individual investor for $240,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $210,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $210,000 even though the broker-dealer claimed the clients’ accounts had tens of thousands of dollars in profits.

Florida State Court Settlement $205,000

This is an action based upon Defendants’ false and misleading statements to Plaintiffs in connection with their investment in a private placement transaction. The Defendants misrepresented themselves as experts and specialists in all aspects of “interim” and “bridge” financing and “factoring” transactions to be undertaken by the investment fund.  They not only misrepresented facts but expressed opinions about the “interim” and “bridge” loan and “factoring” program without any reasonable basis and upon which Plaintiffs justifiably relied due to the Defendants’ alleged expertise in violation of Section 517.301, Florida Statutes and common law for fraud, negligent misrepresentation, breach of fiduciary duty, breach of contract and conspiracy. Within six months, the Defendants settled for the full amount of the investment, $205,000.

FINRA Arbitration Settlement $200,000

This FINRA arbitration was settled with an individual investor for $200,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $200,000

This FINRA Arbitration involved a Florida investor who was disabled and claimed her broker-dealer over-concentrated and overleveraged her account in Puerto Rico municipal bonds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  The case settled on the eve of the arbitration hearing in 2018 for $200,000.

FINRA Arbitration Settlement $199,000

This FINRA arbitration was settled with an individual investor for $199,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $195,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2020 for $195,000 even though the broker-dealer claimed the clients’ accounts had tens of thousands of dollars in profits.

FINRA Arbitration Settlement $195,000

This FINRA Arbitration involved a Puerto Rico investor who claimed her Puerto Rico broker-dealer over-concentrated her account in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2020.

FINRA Arbitration Settlement $192,031

This FINRA arbitration was filed by a family and settled with one of the family members for $192,031 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $192,031

This FINRA arbitration was filed by a family and settled with another of the family members for $192,031 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $192,031

This FINRA arbitration was filed by a family and settled with the third family member for $192,031 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $190,000

This FINRA arbitration was settled with an individual investor for $190,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $188,000

Case No. 99-03728

Sidney Nickin v. Ryan Beck and Co., Inc.

This FINRA arbitration involved unsuitable investment recommendations and churning of a client whose was in the early stages of Alzheimer’s disease.  The Arbitration Panel awarded full compensatory damages of $135,000 and attorney fees to be determined by a court of competent jurisdiction.  The Claimant proceeded to court and received an award of attorney fees (33%) in the amount of $45,000.

FINRA Arbitration Settlement $186,000

This FINRA arbitration was settled with an individual investor for $186,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $185,000

This FINRA arbitration was filed by an 84 year old widow after she deposited her inheritance with a stockbroker in Central Florida proceeded to recommend a series of high commission Real Estate Investment Trusts (REITs) and a covered option writing strategy supposedly to generate income for the widow to live on.   The true motivation was to generate commissions.  The financial advisor excessively traded the widow’s account in not only options but technology stocks.  The broker-dealer settled this dispute for $185,000 which was all of the widow’s losses.

FINRA Arbitration Settlement $183,602

This FINRA arbitration was settled with an individual investor for $183,602 by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $181,611

This FINRA arbitration was settled with an individual investor for $181,611 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

Pre-FINRA Arbitration Settlement $175,000

This dispute was between a charitable organization and a major broker-dealer whose financial advisor misrepresented facts, mismanaged its portfolio and even took undisclosed commissions while working on a fee basis.  The Wall Street firm quickly settled to avoid a scandal when it was advised of the financial abuse suffered by this charity in 2006 for $175,000.

FINRA Arbitration Settlement $175,000

This FINRA arbitration arose out of the underwriting for stock ratings scandal involving a major Wall Street firm’s brokerage and investment banking divisions during the 2000-2002 stock market crash.  The firm settled in 2006 for $175,000.

FINRA Arbitration Settlement $175,000

This FINRA arbitration was settled with an individual investor for $175,000 by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $175,000

This FINRA arbitration was settled with another individual investor for $175,000 by the same major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $175,000

This FINRA arbitration was filed by a parent whose daughter had died in a car accident and discovered the stockbroker she had hired engaged in mutual sales practice abuses, including, mutual fund switching, penny stock fraud, unsuitable investment recommendations and churning. The dispute was emotional and fortunately settled at mediation for $175,000.

FINRA Arbitration Settlement $170,000

This FINRA arbitration was settled with an individual investor for $170,000 by a major Wall Street firm in 2009 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $170,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2015 for $170,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits.

FINRA Arbitration Settlement $165,000

This FINRA arbitration was settled with an individual investor for $165,000 by a major Wall Street firm in 2010 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $162,500

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer over-concentrated and overleveraged their accounts in Puerto Rico municipal bonds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous.  The case settled on the eve of the arbitration hearing in 2016 for $162,500. 

FINRA Arbitration Settlement $160,000

This FINRA arbitration was filed by an investor against a major North Carolina bank with operations in Florida for its financial advisors unsuitable recommendations to invest in a option trading program which was mismanaged and because the investor losses.  The excessive activity was flagged by the broker-dealer, but the customers were never contacted.  The brokerage firm settled in 2003 for $160,000.

FINRA Arbitration Settlement $156,933

This FINRA arbitration was settled with an individual investor for $156,933 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $150,000

This FINRA arbitration was filed by a retired dentist against a major Wall Street firm after its financial advisor recommended portfolio managers whose strategies he knew or should have known would concentrate the retirees securities portfolio in equities, including, those of aggressive growth based companies whose market capitalizations were collapsing and for the most part not generating any dividends that would serve as income sources for Claimants’ retirement living expenses.  The asset allocation strategy and stock transactions were unsuitable for Claimants in light of investment objective mandated by their age, retirement status, and financial condition.  The brokerage firm recognized its financial advisors negligence, and in 2005 settled with this investor for $150,000 which was substantially all of the losses suffered.

Florida State Court Settlement $150,000

This lawsuit was filed by a physician against an unregistered investment adviser who recommended viatical settlement contract investments without doing proper due diligence in what turned out to be a Ponzi scheme.  The investment adviser ultimately settled after unsuccessfully attempting to appeal a lower court decision for the amount of the physicians losses, $150,000.

FINRA Arbitration Settlement $150,000

This FINRA arbitration arose out of unsuitable recommendations to finance a residence with a loan from a brokerage firm secured by investments which crashed during the 2008-2009 financial crisis.  The arbitration claims were settled by the firm and 2011 for $150,000.

FINRA Arbitration Settlement $150,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer over-concentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2015 for $150,000.

FINRA Arbitration Settlement $148,906

This FINRA arbitration was settled with an individual investor for $148,906 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $142,000

Case No. 91-00463

Fergus v. Drexel Burnham Lambert

This arbitration involved misrepresentations and unsuitable investments in connection with an option trading strategy in violation of the Florida securities statutes.  The Arbitration Panel made a full award, including attorney fees, under the securities law statutes to this investor in the amount of $257,000.

FINRA Arbitration Settlement $141,580

This FINRA arbitration was settled with an individual investor for $141,580 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $141,580

This FINRA arbitration was settled with another individual investor for $148,580 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $139,000

This FINRA arbitration was settled with an individual investor for $139,000 by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $137,302

This FINRA arbitration was settled with an individual investor for $137,302 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $135,942

This FINRA arbitration was settled with an individual investor for $135,942 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $135,000

This FINRA Arbitration involved Puerto Rico investor who claimed its Puerto Rico broker-dealer over-concentrated its accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2020.

FINRA Arbitration Settlement $130,000 

This FINRA arbitration was tried and settled midway during the arbitration proceeding.  It involved unsuitable investment recommendations and churning of the customer’s account by a rogue broker. The investor recovered all of her losses, $130,000, in 1998 when this case settled.

FINRA Arbitration Award $133,455

Case No. 05-06509

Carole Bebout v. Morgan Stanley Dean Witter, Inc.

This FINRA arbitration was filed by a young widow who depended upon her small inheritance and life insurance proceeds to support herself and 7-year-old daughter.  She entrusted her lifeline with a financial advisor who then recommended unsuitable investments in technology based mutual funds instead of a well-balanced fixed income investment program she desperately needed to survive.  A substantial portion of her assets were lost in the 2000-2002 market crash.  The amount lost in the market was fortunately awarded to her by the arbitrators.

FINRA Arbitration Settlement $125,000

This FINRA Arbitration involved a Puerto Rico investor who claimed its Puerto Rico broker-dealer over-concentrated its accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2020.

FINRA Arbitration Settlement $125,000

This FINRA arbitration arose out of unsuitable recommendations by a Wall Street firm financial advisor to an unsophisticated investor to invest in technology based mutual funds which collapsed during the 2000-2002 market crash.  It was settled in 2004 for substantially all of the losses suffered in the amount of $125,000.

FINRA Arbitration Settlement $123,754

This FINRA arbitration was settled with an individual investor for $123,754 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

Federal Court Settlement $120,000

Defendants made the representations within letters to YESM shareholders concerning the delivery of instructions for the exchange of YESM common stock for CMGI common stock.  They had no intention of fulfilling that representation.  The Defendants knew from prior merger transactions that the information would be delayed and the exchange would be delayed and the Plaintiff and other YESM shareholders would not have the immediate liquidity that was represented and promised.  The delays caused by Defendants resulted in substantial damages that were recovered in 2003 at mediation.

FINRA Arbitration Settlement $120,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019.

FINRA Arbitration Award $118,700

Case No. 94-00877

Green v. Raymond James & Associates, Inc.

This arbitration involved a theft of $100,000 from Mr. Green’s account by a Raymond James stockbroker.  The Raymond James account holder received an award of $118,700, including attorney fees.

FINRA Arbitration Settlement $117,500 

This FINRA arbitration involved an unsuitable concentration of an investor’s assets in variable annuities which were also misrepresented that was settled in 2006 with a Wall Street firm for $117,500.

FINRA Arbitration Settlement $115,000 

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $135,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits.

FINRA Arbitration Settlement $115,000

This FINRA arbitration against the major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $1.4 million even though the broker-dealer claimed the clients’ accounts had over a millions dollars in profits.

FINRA Arbitration Settlement $114,089

This FINRA arbitration was settled with an individual investor for $114,089 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $112,500

This FINRA arbitration was settled with an individual investor for $112,500 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $112,000

This FINRA arbitration was settled with an individual investor for $112,000 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $111,000

This FINRA arbitration was settled with an individual investor for $111,000 by a major Wall Street firm in 2011 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $110,040

Case No. 03-03649

Richard S. Doyle v. Morgan Stanley DW, Inc.

Mr. Brooks knew that Dr. Doyle was a retired physician with conservative investment objectives to preserve his retirement savings.  Instead, Mr. Brooks solicited Dr. Doyle and managed his accounts through the execution of transactions in junk bonds and junk bond mutual funds that aggressively traded and/or invested in highly speculative corporate bonds.  This was in direct contravention of the fiduciary duties owed by MSDW and its employee to Claimant and was fraudulent and in breach of his other common law tort and contractual duties to abide by the SEC, FDS, and SROs rules and regulations. The Arbitration Panel agreed in 2004 and awarded Dr. Doyle $110,040 in damages.

FINRA Arbitration Settlement $110,000

This FINRA arbitration was settled with an individual investor for $110,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $108,700

Case No. 89-02929

Koppel v. Shearson Lehman Brothers

This arbitration involved various sales practice violations by a Shearson stockbroker and his assistant who were unlawfully executing transactions in the clients account without being registered under Florida law. Mr. Koppel received a full award for the losses suffered as a result of that misconduct.

FINRA Arbitration Settlement $105,000

This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019.

FINRA Arbitration Settlement $100,000

Prior to meeting this Wall Street financial advisor this investor, a retired physician, was predominantly invested in fixed income oriented investments.  He owned some stocks, bonds and mutual funds, but certificates of deposit were the primary investment vehicle.  In fact, at the time the account was opened, he owned in excess of one million dollars of certificates of deposit.  The securities and certificates of deposit that were held at various brokerage firms and banks were transferred to the financial advisor to safeguard and manage for the retired physician.  Shortly after the transfer, many securities were liquidated.  The certificates of deposit were held until they became due and paid.  The financial advisor exercised his discretion and reinvested the proceeds in the stock market.  The retirement portfolio dramatically changed in character from cash, certificates of deposit, municipal bonds and dividend producing “Blue Chip” equity investments for his retirement to a portfolio that became overly concentrated in growth and technology common stocks that crashed in 2002.  The mismanagement dispute was settled in 2004 during the FINRA arbitration for $100,000.

FINRA Arbitration Settlement $99,000

This FINRA Arbitration involved a Puerto Rico investor who claimed their Puerto Rico broker-dealer was supposed to switch Puerto Rico municipal bonds but purchased one bond before liquidating the other. The result was ownership of two bonds in an already concentrated margin account.  The market dropped and the financial advisor further made an unsuitable recommendation to “hold” those positions when he knew market conditions were perilous.  The case settled in 2019 for $99,000.

FINRA Arbitration Award $97,700

Case No. 94-004814

Rhodes v Oppenheimer & Co.

This arbitration was filed by an elderly widow against Oppenheimer and its stockbroker employee for unsuitable recommendations in violation of the Florida securities statutes.  The arbitrators made a full award in her favor in the amount of $97,700, including attorney fees and expenses.

Probate Court Settlement $95,000

This was a sad case of a financial advisor exercising undue influence over an elderly widow and inserting himself in her financial affairs and assets.  After the widow died, the family brought an action for undue influence and interference with testamentary gifts.  The financial advisor was caught red-handed and he deeded property and returned assets to the estate in this 2005 Probate Court settlement.

FINRA Arbitration Settlement $92,500

This FINRA arbitration involved a financial advisor who “solicited” two octogenarians to liquidate the mutual funds they owned and reinvest the proceeds into several new mutual funds claiming that these mutual funds would perform better in the so-called “new economy.”  The financial advisor misrepresented the mutual funds he recommended as “conservative.”  He omitted to tell the clients that the securities owned by the mutual funds he recommended were largely “growth” oriented mutual funds which invested in the more volatile, non-dividend paying companies common stocks.  As a result, the Claimants’ securities portfolio dramatically changed in character from a suitable income oriented mutual fund portfolio to an unsuitable growth stock portfolio that was overly aggressive and too speculative for these elderly retirees.  Consequently, they suffered losses in the 2000-2002 market crash which were recovered in this 2003 settlement.

FINRA Arbitration Settlement $85,378

This FINRA arbitration was settled with an individual investor for $85,378 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $85,000

In the Spring of 2000, this financial advisor “solicited” another elderly widow to liquidate her investment grade securities and “solicited” her to reinvest the proceeds into several mutual funds claiming again that these mutual funds would perform better in the so-called “current economy.”  He misrepresented that these mutual funds were investments in “old-line companies with new technologies.”  He misrepresented that the mutual funds he recommended were “conservative.”  The widow blindly accepted the recommendations.  As a result, her securities portfolio dramatically changed in character from the “Blue Chip” and conservative equity investments for her near term retirement goal to a portfolio that was overly-concentrated in aggressive and speculative high technology equity investments that were too volatile and therefore unsuitable for a widow of her age and financial condition. The FINRA arbitration was settled in 2003 shortly after it was filed for the losses suffered during the 2002 market collapse in the amount of $95,000.

FINRA Arbitration Settlement $83,889

This FINRA arbitration was settled with an individual investor for $83,889 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $82,000

Case No. 93-03221

Norko v. Paragon Capital

This arbitration was filed against Paragon and its financial advisor employee for misrepresentations in connection with the risk of trading securities on margin.   The Arbitration Panel made a full award in the amount of $82,000, including attorney fees for violation of the Florida securities laws.

FINRA Arbitration Settlement $80,000

These financial advisors exercised de facto control over the Claimants’ account with respect to all investment decisions in the aforementioned accounts.  The Respondents excessively traded Claimants’ accounts in highly speculative strategies and investments which they misrepresented as suitable for Claimants’ retirement assets.  The asset turn-over rates exceeded 10 times on an annualized basis. The excessive activity could not be justified and the FINRA arbitration settled in 2002 for $80,000.

FINRA Arbitration Settlement $80,000

This FINRA Arbitration involved Puerto Rico investors living in Florida who claimed their Wall Street based broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous.  The case settled in 2019 for substantially all of the losses suffered.

FINRA Arbitration Settlement $78,000

This FINRA arbitration was settled with an individual investor for $78,000 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $75,000

This FINRA arbitration arose out of the underwriting for stock ratings scandal involving a major Wall Street firm’s brokerage and investment banking divisions during the 2000-2002 stock market crash.  The firm settled in 2006 for $75,000.

FINRA Arbitration Award $73,900

Case No. 87-00975

Shevrin v. Broadchild Securities

This arbitration was filed against multiple brokerages who employed a dishonest broker who hopped from firm to firm and engaged in misconduct wherever he work.  He was accused of misrepresentations in violation of the Florida securities statutes and civil theft.  Two of the brokerages settled their part of the dispute.  The other firm and stockbroker were found liable for violations of the statutes and hit with an award of $73,900 including attorney fees and treble damages.

FINRA Arbitration Settlement $65,000

This FINRA arbitration was settled with an individual investor for $65,000 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis.

FINRA Arbitration Settlement $64,954

This FINRA arbitration was settled with an individual investor for $64,954 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $62,800

Case No. 93-03135

Hitz v. Merrill Lynch Pierce Fenner and Smith, Inc.

This investor filed a claim against Merrill Lynch for unsuitable recommendations and overconcentration of his portfolio in real estate limited partnerships. The arbitrators made an award in the amount of $62,800 in his favor and against the firm.

Florida State Court Settlement $55,000

This lawsuit was filed against an unregistered investment advisor who fraudulently offered and supposedly sold securities that were never issued by the company whose stock this investor thought he purchased.  This was a slam dunk and the investor recovered his investment, $55,000, during the resulting 2010 criminal investigation.

FINRA Arbitration Award $54,800

Case No. 95-01720

Murphy v. Noble Investments, Inc.

This arbitration was filed by an unsophisticated and inexperienced investor who was recently widowed for unsuitable investment recommendations by a Noble Investment company employee who recommended speculative investments in companies underwritten by the broker dealer.  The arbitrators made a full award to the widow for violations of the Florida securities laws in the amount of $54,800, including attorney fees.

FINRA Arbitration Award $53,500

Case No. 15-00696

Sondra A. Steinberg v TD Ameritrade, Inc.

This FINRA arbitration is a sad story of a mother being taken advantage by her son who unlawfully gained access to her TD Ameritrade (TDA) account.  The TDA customer account asset protection features were overstated as this family member easily breached the system. The Arbitration Panel made an Award but not the full amount she was entitled, $53,500.

Florida State Court Settlement $50,000

This lawsuit was filed by an investor whose accountant recommended an investment in “Letters of Protection” which was really a Ponzi Scheme. The CPA settled in 2016 for $50,000.

FINRA Arbitration Award $48,000

Case No. 17-00948

Helane Stein v UBS Financial Services Inc.

This FINRA arbitration involved another sad story of financial abuse of an elderly women with dementia while the broker dealer UBS Financial Services, Inc. stood by and watched.  In fact, it enabled the husband to withdraw his wife’s account through a line-of-credit opened when she was incompetent to do so.  Although the Arbitration Panel made an award, it only awarded the amount UBS benefited in receiving the interest payments on the line-of-credit, $48,000.

FINRA Arbitration Settlement $46,420

This FINRA arbitration was settled with an individual investor for $46,420 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $45,000

This FINRA arbitration against the major broker-dealer in the United States and its off-shore subsidiary involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $1.4 million even though the broker-dealer claimed the clients’ accounts had over a millions dollars in profits.

FINRA Arbitration Settlement $41,500

This arbitration proceeding involved a simple issue but the most important in the industry, that is, the duty to execute a customer’s order promptly.  In this case the firm failed to execute a sell order and settled in 2009 for the losses suffered by the investor for the delay in executing that sell order.

FINRA Arbitration Award $40,900

Case No. 96-03332

Enid Dampf v. Ruan Securities

This arbitration claim involved misrepresentations about the risks associated with an option strategy mismanaged by a Ruan Securities stockbroker.  The arbitrators found violations of the Florida securities laws and awarded Ms. Dampf $40,900, including attorney fees and expenses.

FINRA Arbitration Settlement $39,848

This FINRA arbitration was settled with an individual investor for $39,848 by a major Wall Street firm in 2013 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $39,000

This FINRA arbitration against a Puerto Rico broker-dealer involved overconcentration of Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $39,000 even though the broker-dealer claimed the clients’ accounts had thousands of dollars in profits.

FINRA Arbitration Award $35,000

Case No. 99-02821

Frankie Thomas v. Citicorp Investments, Inc.

This investor claimed that the brokerage failed to execute his order to sell 3Com stock in a timely manner.  The Arbitration Panel agreed but only made a partial award of the damages suffered in the amount of $35,000.

FINRA Arbitration Settlement $35,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $35,000.

FINRA Arbitration Award $35,000

Case No. 96-03069

Olivia v. Shearson Lehman Hutton, Inc.

This investor alleged that the Shearson Lehman stockbroker misrepresented the risks of investing in a Macy’s zero coupon bond and failed to disclose that the retailers true financial condition.  The arbitrators made a partial award for the damages suffered without explanation.

FINRA Arbitration Settlement $34,500

This FINRA arbitration was filed by a recently widowed and elderly investor whose financial advisor recommended that she rollover the assets she inherited in a 401K Plan and deposit them in an IRA Rollover Account at Citigroup.  He transferred the mutual funds to the investor’s new accounts and began to make investments for her.   The investments made for the widow were preferred stocks of companies in the financial sector such as Wachovia, Merrill Lynch, Lehman and Fannie Mae.   In a short time the broker invested forty-five (45%) percent of the widow’s assets in preferred stocks of several financial companies on the brink of bankruptcy.  It was no coincidence his employer was one of the underwriters for each of these company’s preferred stock offerings to the public.  The broker dealer settled in 2009 for the loss suffered.

FINRA Arbitration Settlement $27,500

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $27,500.

FINRA Arbitration Settlement $26,500

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $26,500.

FINRA Arbitration Settlement $23,119

This FINRA arbitration was settled with an individual investor for $23,119 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Settlement $18,000

This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved overconcentration municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2015 for $18,000.

FINRA Arbitration Settlement $13,542

This FINRA arbitration was settled with an individual investor for $13,542 by a major Wall Street firm in 2012 for losses arising out of a complex leveraged municipal arbitrage structured product which was allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. 

FINRA Arbitration Award $13,500

Case No. 93-01973

Moss v Prudential Securities, Inc.

This investor alleged that the Prudential Securities stockbroker misrepresented the risks of investing in a Macy’s debenture and failed to disclose that the retailers true financial condition.  The arbitrators made a partial award for the damages suffered without explanation.

FINRA Arbitration Settlement $10,000

This FINRA arbitration against the major broker-dealer in the United States and its off-shore subsidiary involved overconcentration municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealer knew market conditions were perilous.  The case settled in 2019 for $10,000.

FINRA Arbitration Award $7,100

Case No. 91-02194

Manwell v. Paine Webber, Inc.

This small claim arose in connection with an unsuitable switch of mutual funds resulting in an award of the fees incurred due to the switch and costs amounting to $7,100.