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Recent Cases: Investor recovers for unsuitable trading and breach of fiduciary duty. |
In the Dickinson case, Ed Dovin and Sandra Malkin represented a woman who was recently widowed and had virtually no investment experience. Shortly after her husband's death, Mrs. Dickinson was solicited by Ron Josey of McAllaster & Associates to open an account with his firm. Once Mrs. Dickinson's inherited assets were transferred to Mr. Josey, they were invested in a variable annuity in her IRA and in class B equity mutual funds in her individual account. Claimant argued that the investments were not suitable and that Respondents had breached their fiduciary duty to Mrs. Dickinson. The arbitration panel awarded Mrs. Dickinson actual damages of $139,732. |
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