Yousef Jamshidipour Loses Customer Dispute Over Unsuitable Investments

Yousef Jamshidipour Loses Customer Dispute Over Unsuitable Investments 150 150 Rex Securities Law

On April 16, 2013, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Los Angeles, CA, ordered Ameriprise Financial Services, Inc. and broker Yousef Jamshidipour to pay a customer compensatory damages of $82,785, including  interest, mediation fees and expert witness fees. The panel denied the request for punitive damages and attorney fees. FINRA Case #09-5316.

The customer alleged misrepresentations, unsuitability of investments, unauthorized trading, breach of fiduciary duty and lack of supervision in connection with purchase, on margin, of Frontline common stock, GMAC stock and a variable annuity. The customer had requested damages of $150,000, punitive damages of $350,000, attorney fees, interest and costs.

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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