Several Recent FINRA Arbitration Awards in Favor of Individuals Seeking Damages for Investment Losses

Several Recent FINRA Arbitration Awards in Favor of Individuals Seeking Damages for Investment Losses 150 150 Rex Securities Law

Investors who have lost money as a result of the negligence of a stockbroker or a stock brokerage firm generally seek recovery of damages by filing an arbitration with FINRA, the Financial Industry Regulatory Authority. FINRA arbitrations are designed to permit much quicker resolution of the dispute, generally about a year, and at much less cost than litigation pursued in court.  In many instances securities lawyers will pursue cases on a contingent fee basis.

The following is a summary of several recent arbitration awards in favor of investors:

Frey, Rambling River Ranches vs. AIG Financial Advisors, Sagepoint Financial, et al, Case #13-1039, Las Vegas, NV–Investors brought FINRA arbitration against AIG and Sagepoint in connection with Braintree Park Mortgage and Guaranty Agreements. AIG  and Sagepoint FInancial were found jointly and severally liable for compensatory damages of $731,000, plus attorney fees.

Malone vs. Securities America, Case #13-3696– An investor brought arbitration vs. Securities America for unsuitability and violations of Minnesota Securities Act in connection with the purchase of Behringer Harvard REIT I, a non publicly traded real estate investment trust and was awarded damages of over $11,000.

Alberts Trust of 1997 vs. Wells Fargo Advisors Financial Network, LLC, Case #13-138, Milwaukee, WI–Investor filed a FINRA arbitration against Wells Fargo alleging fraud, misrepresentation and breach of fiduciary duty alleging that Wells Fargo placed the entire portfolio in volatile risky in-house bonds that had sub-prime exposure. The arbitration panel awarded $195,000 to the investor.

PR Liquidating Trust vs. Workman Securities, Case #13-3108,Dallas TX-Investor brought action for negligence and violation of securities laws in connection with the purchase of a private placement, Reg D offering in an oil and gas investment managed by Provident Royalties, LLC.  Claimant’s motion for default was granted and damages of $11.5 million were awarded.  According to FINRA records Workman has not been registered with FINRA for a number of years, so this victory may prove hollow, since there may be no source of payment for the winning party.

If you have suffered losses in your brokerage account, call to discuss your legal options with an experienced securities attorney.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 


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