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 Our Services
Broker-Dealer Litigation, Arbitration and Regulatory Practice
Other Broker-Dealer Litigation
- Represented Stifel, Nicolaus & Company, Inc. in FINRA arbitration involving suitability and misrepresentation claim in excess of $600,000 brought by institutional investor for losses associated with auction rate securities.
- Represented Waddell & Reed, Inc. in NASD arbitration involving suitability and brokerage claim in excess of $2 million. Award for Respondents on motion to dismiss.
- Defending broker against allegations that it and 46 other defendants took part in a scheme to defraud funeral homes and consumers through the sale of funeral contracts. Plaintiffs seek $600 million in damages. Motion to dismiss is pending.
- Defending broker-dealer against claims of fraud and misrepresentation relating to a variable annuity the plaintiff purchased in 1980. Motion for summary judgment filed.
- Representing broker-dealer in state securities law and common law claims by five Wisconsin school districts related to alleged fraud in connection with a $200 million investment in synthetic collateralized debt obligations (“CDO’s”)
- Represented broker-dealer in federal court trial and on appeal, defeating claims alleging it took on status as ERISA fiduciary to profit sharing plan and breached ERISA duties.
- Successfully handled numerous arbitration claims for broker-dealers before NASD, NYSE and FINRA panels on issues involving suitability, churning and selling away. Some matters involved multi day and multi week proceedings, and multimillion dollar claims. Examples: in week-long NYSE arbitration, defeated a multimillion dollar suitability claim; in a multi-day NASD hearing, panel rejected investor’s suitability claim arising out of a $9 million leveraged bond arbitrage investment; and successfully defended top-four broker-dealer and financial advisor from negligent investment and tax advice claims in connection with exercise and disposition of employee incentive stock options.
- Representing broker-dealers in employment-related litigation in state and federal courts, including class and collective actions, discrimination, breach of employment contract, ERISA, and other compensation and bonus issues.
- Representing numerous broker-dealers in trade secret and unfair competition cases in federal and state courts, including temporary restraining order and preliminary injunction hearings involving customer and employee raiding and misappropriation of trade secrets.
- Represented Securities Industry Association in amicus curiae brief to U.S. Supreme Court in Lampf v. Gilbertson.
- Represented broker-dealer in connection with nationwide litigation, including class action, arising out of the sale of oil and gas limited partnerships.
- Represented SII Investments, Inc. in NASD arbitration involving “selling-away” with compensatory damage claim in excess of $500,000. Award for Respondents at close of Claimants’ case.
- Represented A.G. Edwards & Sons, Inc. in FINRA arbitration involving “selling-away” with compensatory damage claim of approximately $200,000 plus pre-judgment interest and attorneys’ fees. Award for Respondent.
- Represented A.G. Edwards & Sons, Inc., et. al. in NASD arbitration involving suitability and misrepresentation claim of $1 million, plus interest, attorneys’ fees and punitive damages. Award for Respondents.
- Representing First Allied Securities, Inc. in Boulder County, County District Court in connection with a suitability and misrepresentation claim in excess of $1.3 million.
- Represented Stifel, Nicolaus & Company, Inc. in FINRA arbitration involving compensation dispute related to payment of bonus and termination. Compensatory damage claim of over $350,000 plus statutory treble damages, attorneys’ fees and costs.
- Represented Wachovia Capital Markets, LLC in FINRA arbitration involving compensation dispute related to payment of bonus. Compensatory damage claim of approximately $1 million plus pre-judgment interest and attorneys’ fees.
- Thomas McGraw v. Wachovia Securities, LLC (N.D. Iowa) Representing broker dealer in “selling-away” case with compensatory damage claim in excess of $500,000 plus pre-judgment interest, attorneys’ fees and punitive damages.
- Latigo Investments II, LLC et al v. Waddell & Reed Financial, Inc. et al. (Mecklenburg County, N.C. Bus. Ct.) Defended broker dealer against breach of contract and fraud claims in excess of $50 million related to sale of NASCAR team.
- Joel Smith et. al. v. Robert Price Copeland et. al. (N.D. Ga) Represented broker-dealer in litigation arising from a $40 million Ponzi scheme operated by an elder care attorney unaffiliated with the broker-dealer. Successfully defended against federal and state RICO claims brought against the broker-dealer on the basis of allegations that a number of its registered representatives conspired with the perpetrator of the scheme.
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