July 2017-New York
An arbitration panel of the Financial Industry Regulatory Authority (FINRA) ordered Northeast Securities, Inc. a broker dealer headquartered in Mitchelfield , NY, and three of their brokers to pay a former customer nearly $1.8 million dollars in a case involving investments in corporate bonds. The customer alleged common law fraud, churning, breach of fiduciary duty, misrepresentation, failure to supervise, improper use of margin borrowing and other claims.
The all public FINRA arbitration panel assessed the award jointly and severally against Northeast Securities and brokers Stephen J. Perrone, Diane Hawkins and Jonathan M. Zucker. In addition the panel awarded interest of 9% on the award from March 2012 until the award is paid and expert witness fees of nearly $34,000. McLaughlin v Northeast Securities, et al, FINRA Case 16-1806.
If you have suffered losses in your brokerage account due to the fraud or negligence of your stockbroker, we may be able to help you recover damages through FINRA arbitration, a process that is generally much quicker and less costly than court litigation.
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.
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