January 19, 2016-El Paso, Texas
A Financial Industry Regulatory Authority (FINRA) arbitration panel ordered stock brokerage firm EDI Financial, Inc. to pay a customer $273,606 in damages and attorney fees. The customer claimed that EDI Financial was negligent, failed to supervise the broker, made misrepresentations and traded the account without authority. In addition, the customer claimed that trading in the account was excessive and unsuitable for his stated risk tolerance. FINRA Case #14-1822, Azar vs. EDI Financial.
FINRA records indicate that William S. Thurmond has been a broker for EDI Financial in El Paso since 1997.
EDI Financial has been a FINRA member since 1986, is headquartered in Irving, Texas, and has 70 brokers in 22 branch offices. In 2015 EDI FInancial was censured and fined $100,000 over it sales practices involving private placements. See this for more.
If you have losses in an account at EDI Financial, contact us to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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