Case Conclusion Date: August 23, 2004
Practice Area: Arbitration
Outcome: $1.36 million award
Description: This case involved fraudulent and unsuitable investment recommendations by the longtime investment advisor for these elderly clients, who wish to remain unnamed for privacy reasons. The nature of the unsuitable trading was so egregious, and the lack of supervision was so significant, that the award was imposed not only against the brokerage firm, but also against several individuals for their lack of oversight of the offending broker's activity.