Case Results
Case No. 02-04422
On behalf of four former Merrill Lynch clients, Jeffrey Feldman recovered 6.4 Million Dollars from Merrill Lynch and its’ broker in what was the second largest consumer FINRA Arbitration award in 2004
The Law Offices of Jeffrey A. Feldman obtained an arbitration award against Merrill Lynch, Pierce, Fenner & Smith, Inc. and a registered representative of Merrill Lynch, that exceeded what the clients lost by approximately $4,600,000. It was alleged in the arbitration that the registered representative of Merrill Lynch had recommended to the four clients that they exercise and hold their employee stock options, by borrowing money from Merrill Lynch to pay the exercise price and taxes for the transactions, and to borrow additional funds from Merrill Lynch to purchase risky stocks. This arbitration was held in Dallas, Texas, and the Arbitration Panel made a statement that what Merrill Lynch and its registered representative had done was very wrong based on the extraordinary arbitration award.
SETTLEMENT
Settlement of $5.53 Million Recovered for a Group of Oil Refinery Workers Against Major Brokerage Firm
The Law Offices of Jeffrey A. Feldman recovered $5,530,165 in 2003 against a major brokerage firm for a group of clients who were hard-working blue collar oil refinery workers. All of these clients were either just retired, or near retirement. The claims were based on unsuitable recommendations to concentrate significant portions of the clients’ retirement assets into a small number of risky companies in the technology area. The settlement, for losses sustained in the “tech-wreck” in the early 2000s, is notable for its size and the percentage of losses recovered.
SETTLEMENT
A $2.2 Million Dollar Settlement Recovered on Behalf of a Large Group of Individuals Against a Major Bank / Brokerage Firm
The Law Offices of Jeffrey A. Feldman recovered $2.2 million dollars in 2015 against a major bank’s broker/dealer division for a group of investors whose broker advised them to invest in a Ponzi-scheme, which was run by the broker.
SETTLEMENT
$856,000 Recovered For a High Net Worth Individual Against a Major Discount Brokerage Firm
The Law Offices of Jeffrey A. Feldman recovered $856,000 dollars in 2019 against a major discount brokerage firm for a high-net worth investor. The client’s claims were based on the unauthorized liquidation of the client’s securities, which created a significant tax obligation for the client. The settlement is notable because the brokerage firm not only made the client whole, but also paid the client’s attorney’s fees.
Case No. 19-02711
FINRA Arbitration Award is Obtained Against Stock Broker Who Put Her Clients in a Ponzi-Scheme
The Law Offices of Jeffrey A. Feldman obtained an arbitration award against former stock broker Narinder Singh for recommending that her clients invest most of their investable assets into a Ponzi-scheme.
Case No. 08-03899
$73,306 Recovered for Elderly Client Whose Financial Advisor Advised the Client to Transfer Account to New Advisor Who Misappropriated Funds
The Law Offices of Jeffrey A. Feldman represented an elderly woman whose claim alleged that her former broker and brokerage firm sold the firm to unscrupulous people without doing proper due diligence. It was alleged that the client was then advised to transfer her account to the unscrupulous new owners of the firm, allowing the client’s investment funds to be improperly used and lost by the new firm. The arbitration claim alleged that the previous broker and firm had breached their fiduciary duty, engaged in negligent supervision and negligence, made negligent misrepresentations, negligently referred the client to the new brokerage firm, committed fraud, and violated the California Corporations Code and the California Welfare and Institutions Code.
Case No. 01-02533
FINRA Arbitration Award Against Stock Brokers and Their Firm For Losses Stemming From Unauthorized Trading in the Clients’ Accounts
The Law Offices of Jeffrey A. Feldman obtained an arbitration award of $423,350 against their clients’ stock brokers and their brokerage firm. The arbitration claim alleged unauthorized trading, breach of fiduciary duty, unsuitability, fraud, negligence, breach of third-party beneficiary contract and failure to supervise. This award is notable because the arbitrators awarded Mr. Feldman’s clients $270,000 in punitive damages.
Case No. 00-05178
Fidelity Loses Its Claim for a Debit Balance and Loses on a Counter-Claim For Wrongfully Executing Trade in Clients’ Account
Fidelity brought a claim against Mr. Feldman’s clients for failing to satisfy a debit balance in the clients’ margin account. Mr. Feldman’s clients counter-claimed for losses that occurred as the result of Fidelity liquidating the clients’ stocks, and taking the funds to pay for margin debt. This award is notable because Fidelity lost their claim against Mr. Feldman’s clients, and Mr. Feldman’s clients won their counter-claim against Fidelity, based on the allegation of erroneous trades that were executed in the account.
SETTLEMENT
Settlement of $3.69 Million Recovered for Victims of a Rogue Broker
The Law Offices of Jeffrey A. Feldman recovered $3,687,000 in 2011, from a major brokerage firm, for a group of clients who were victimized by a rogue broker. It was alleged that the majority of the clients’ losses were caused by a poorly supervised broker who was able to steal money from the clients, both directly from their accounts, and through fraudulent schemes. Additional claims included unauthorized trading, unsuitability of investments, and selling away from the firm.
SETTLEMENT
$500,000 Recovered for Client Whose Broker Recommended Investment in Risky and Illiquid TIC
The Law Offices of Jeffrey A. Feldman obtained a $500,000 dollar settlement in 2012, for a retired client whose broker it was alleged recommended investing in a risky and illiquid TIC. The arbitration claim alleged that the TIC consisted of shares in a large commercial property, sold to investors at an inflated price. The FINRA arbitration alleged that the TIC turned out to be an illiquid security, with no secondary market.
$475,000 Recovered for Client Whose Broker Recommended Risky Structured Products
The Law Offices of Jeffrey A. Feldman obtained a $475,000 dollar settlement in 2010, for an ultra high net worth and experienced investor. The FINRA arbitration claim alleged that the structured product was marketed to the investor with exaggerated claims of safety and an oversimplification of risks. The claim also alleged that the client’s brokerage firm and broker failed to inform the client about the declining financial condition of the structured product’s issuer, who eventually went bankrupt, leaving the clients holding investments that were essentially worthless.