The following recent FINRA Arbitration awards are presented to highlight the type of securities losses that may be recoverable. JUX Law Firm was not involved in the cases highlighted unless so specified.
- Motion to Dismiss Summary Judgment: Investor Represented by Mark C. Santi of JUX Law Firm prevails on Summary Judgment against Creative Wealth Strategies, Inc.
- Confidential settlement (REIT): Attorney Mark C. Santi negotiated a confidential settlement in a case involving a non-traded RIET to an elderly investor
- Confidential settlement (unauthorized trading): Attorney Mark C. Santi negotiated a confidential settlement in a case involving allegations of unauthorized trading
- Confidential settlement (selling away): Attorney Mark C. Santi negotiated a settlement in a matter involving allegations of selling away/outside business activities
- Confidential settlement: Mark C. Santi negotiated a confidential settlement for an investor in reverse convertible notes.
- $666,686.74 in compensatory and punitive damages, attorney’s fees, and costs awarded on June 5, 2013 by a FINRA arbitration panel. Claimant asserted: excessive trading, churning, misrepresentation/non-
disclosures, omission of facts, suitability, unauthorized trading, breach of contract, and negligence.
- $4,958,395.06 in compensatory and punitive damages plus attorney’s fees awarded on June 4, 2013 by a FINRA arbitration panel jointly and severally against several respondents. The claims arose from Tenant in Common (TIC) real estate investments. Claimant asserted: breach of contract, breach of fiduciary duty, constructive fraud, negligence, misrepresentation, unsuitability, omission of facts, and unfair trade.
- $1,615,160 in compensatory damages awarded on June 3, 2013 by a FINRA arbitration panel jointly and severally against several respondents on claims of unsuitability, fraud, and negligence. The claims arose from Tenant in Common (TIC) real estate investments.
- $461,031.99 in compensatory damages against RBC Capital Markets, LLC on May 29, 2013 by a FINRA arbitration panel. Claimant asserted: breach of fiduciary duty; negligence; negligent supervision; fraud (false representations and material omissions); and, breach of contract. The matter arose from investments in Lehman Brothers preferred stock, Alpine Dynamic Dividend Fund, Alpine Total Dynamic Dividend Fund, and PowerShares Financial Preferred closed end fund. The panel also awarded $250,000 in punitive damages. The panel determined that the respondent falsified the Customer Questionnaire as to the risk level that the customer had agreed to and misrepresented that the U.S. government would not allow Lehman Brothers to fail.