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Recent Cases: Retiree recovers $288,000 from A.G. Edwards. |
In May 2008, a FINRA Panel awarded Claimants $204,242, a full recovery of the losses in Mr. Browning’s IRA, plus $71,485 in attorneys’ fees and $12,809 in costs. Browning, who worked at BellSouth as an installer/repairman for over 30 years, opened an IRA rollover account with Respondents and deposited $235,000 in May 2000. His investment objective, as reflected on his statements was “growth conservative”. However, contrary to this objective, Respondents began actively trading the account in highly speculative stocks, primarily in the technology sector. As a result, Mr. Browning lost over 85% of his retirement funds. The case was handled by Ed Dovin and Sandra Malkin. |
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