Seattle, WA
Securities and investment fraud Lawyer at Seattle, WA
Practice Areas: Securities & Investment Fraud
OUTCOME: Award for $1,066,575 in compensatory damages
FINRA Arbitration claim against the Claimants' broker-dealer alleging unsuitable investment recommendations of alternative investments, negligent due diligence, negligent supervision, fraud and misrepr ... esentation.
OUTCOME: $228,384 (inclusive of costs and attorney's fees) awarded to Claimant
FINRA Arbitration No. 18-03960 Claims against respondent for negligent supervision of its registered representative, allowing the agent to sell a private securities transaction to the Claimant (also ... referred to as a "selling away" case). The investment at issue was a high-risk private promissory note, which was an unregistered security, and was wholly unsuitable for the Claimant. Following the arbitration hearing, Claimant was awarded the full amount of her losses plus interest from the date of purchase, reimbursement of costs and attorney's fees.
OUTCOME: $71,000 in compensatory damages plus 10% interest from date of purchase until the Award is paid in full, plus costs
The case alleged that Respondent was negligent in permitting its registered representative to sell an unapproved, private security (aka "selling away") that was wholly unsuitable for the Claimant. Cla ... imant was awarded the full amount of her purchase (which was a complete loss), plus interest and forum costs.
OUTCOME: Award for $432,515 plus interest and costs.
Case brought in FINRA Arbitration (Case No. 16-01243) on behalf of an unsophisticated retiree who was solicited by her broker to over-concentrate her retirement savings in non-traded REITs and other al ... ternative investments. The claims included allegations of fraud, misrepresentation, unsuitable investment recommendations, breach of fiduciary duty, and negligent supervision of the selling broker. This Award is publicly available and may be viewed through FINRA’s website at https://www.finra.org/sites/default/files/aao_documents/16-01243%20Award.pdf
OUTCOME: Awarded $188,000 plus interest
Case brought in FINRA Arbitration (Case No. 12-04306) on behalf of unsophisticated retirees who were solicited by their broker to invest exclusively in speculative oil and gas investments. The claims ... included allegations of fraud, misrepresentation, unsuitable investment recommendations, breach of fiduciary duty, and negligent supervision of the selling broker. The Respondent brokerage firm in turn filed a counter-claim attempting to rely on an indemnification clause in the oil and gas company’s subscription agreements in an effort to absolve itself of liability and hold the investors responsible for Respondent’s attorney’s fees in the case. After a week-long arbitration hearing, the arbitrators entered an Award in Claimant’s favor for compensatory damages plus interest and denied Respondent’s counter-claim in its entirety. This Award is publicly available and may be viewed through FINRA’s website at http://finraawardsonline.finra.org/viewdocument.aspx?DocNB=64269.
OUTCOME: Award for $532,343.55 plus interest
Case brought in FINRA Arbitration (Case No. 18-00810) on behalf of unsophisticated investors who were solicited by their broker to over-concentrate their savings in speculative, high-commission paying ... alternative investments. The claims included allegations of fraud, misrepresentation, unsuitable investment recommendations, breach of fiduciary duty, and negligent supervision of the selling broker. This Award is publicly available and may be viewed through FINRA’s website at https://www.finra.org/sites/default/files/aao_documents/18-00810.pdf.
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