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Annino v. Wells Fargo Investments

Case Conclusion Date: 12.20.2010

Practice Area: Securities and investment fraud

Outcome: Client recovered his large losses

Description: Senior citizen was sold a derivative securities called "Reverse Convertible Bonds" which were misrepresented to be safe and low risk "bonds". Client lost over $100,000 and recovered his losses through a hard fought 5 day securities arbitration. Wells Fargo had made no settlement offer and asserted that the claim was not worth even "one plug nickel". The securities were sold to client by a broker at his bank branch and relied on the prestige and conservative stature of the large branch.

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