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Greco & Greco’s attorneys (licensed in Our lawyers use this experience in arbitration and federal and state court to diligently pursue recovery of investors' losses resulting from securities fraud, churning, lack of suitability, negligence, unauthorized trading, and other unlawful actions. If you feel that you may have a claim, please contact us for a free consultation. |
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AUCTION RATE SECURITIESAuction Rate Securities (ARS), often sold as liquid cash equivalents, have become a major problem for investors due to the failures of the auctions and the inability of investors to access their funds. Read our article on what you need to know about Auction Rate Securities. Greco & Greco is currently representing ARS investors and reviewing potential new claims of individuals and business entities. Recent AwardsREQUIRED DISCLAIMER: CASE RESULTS DEPEND UPON A VARIETY OF FACTORS UNIQUE TO EACH CASE AND DO NOT GUARANTEE OR PREDICT A SIMILAR RESULT IN ANY FUTURE CASE UNDERTAKEN BY THIS FIRM. $2 MILLION FINRA AWARD FOR GRECO & GRECO CLIENTSA New York FINRA arbitration panel entered an award for over two million dollars ($1,875,000 in damages plus interest) for five Greco & Greco clients against a Denver, Colorado securities broker. The customers incurred severe losses over a short time frame in their accounts involved in a leveraged U.S. Treasury trading program. Read the FINRA award. GRECO & GRECO OBTAINS $3.24 MILLION ARBITRATION AWARDGreco & Greco recently obtained a 3.24 million dollar arbitration award on behalf of a retired Northern Virginia man against his stockbroker and brokerage firm. The case involved churning, unauthorized margin trading, unsuitable recommendations, and securities fraud. In addition to $1,003,725 in compensatory damages, the arbitration panel awarded $1,300,000 in punitive damages, $774,863 in attorneys fees, and pre-award interest. Read the NASD award or read the Virginia Lawyers Weekly article about the case. LOSSES AND ATTORNEYS’ FEES RECOVERED FOR NORTHERN VIRGINIA COUPLEGreco & Greco represented a retired Northern Virginia couple in a NASD arbitration seeking the recovery of savings lost by their stockbroker which they had intended to use to buy a new house. The broker had invested all of their life savings and house sale proceeds in the stock market through the use of a money manager. The arbitration panel awarded the couple $195,000 in damages (an amount higher than their out-of-pocket losses), $65,000 in attorneys’ fees, and interest from July, 2003. Read the NASD award. RECOVERY BY GRECO & GRECO OF $75,000 PAID OUT OF DISABLED WOMAN’S ACCOUNT TO ALLEGED BUSINESS VENTURE OF BROKER.A Norfolk, Virginia NASD arbitration panel found a brokerage firm liable for $75,000 in savings paid out of a disabled woman’s brokerage account to an alleged business venture of her stock broker on the last day of employment at the firm by her broker. The firm had taken the position that it was not responsible for the “investment” made outside of the firm. Read the NASD award REGISTERED REP AWARDED BACK COMMISSIONS OWED FROM SPLIT FEE AGREEMENTGreco & Greco’s client in this case was a Norfolk, Virginia broker who had agreed with his partner to set up introductory meetings with institutional clients and to subsequently split the fees earned from these clients. An NASD arbitration was filed seeking the broker’s share of commissions which were not correctly split and paid. The arbitration panel awarded $509,732 in back commissions and interest to Greco & Greco’s client. Read the NASD award. INVESTMENT LOSSES RECOVERED FOR DISABLED CHARLOTTESVILLE WOMANAn NASD arbitration panel in Richmond recently awarded a disabled Charlottesville, Virginia woman represented by Greco & Greco all of her losses in her investment account ($60,530) plus interest. Her brokerage firm had unsuitably invested her account aggressively in growth stocks despite the woman’s need for income from the account for living expenses for the rest of her life. Read the NASD award. SETTLEMENTSIn addition to the arbitration awards referenced on this page, Greco & Greco has recovered millions of dollars for customers of stock brokers through settlements and mediation of arbitration claims over the past several years. Details of these settlements are subject to confidentiality requirements. UNIVERSAL LEASE CASESGreco & Greco is currently pursuing claims related to “Universal Lease Programs” and alleged timeshares involving the following entities: Resort Holdings International, Yucatan Resorts, Majesty Travel, Avalon Resorts, and/or Phantasy Travel. Greco & Greco has tried securities arbitration claims in all of the NASD Dispute Resolution’s forum cities in the area (Washington, D.C., Richmond, Norfolk, and Baltimore) and we would be happy to discuss potential claims with residents from all areas of Virginia, Maryland, and Washington, DC, including Richmond, Norfolk, Roanoke, Virginia Beach, Alexandria, Fairfax, Arlington, Fredericksburg, Falls Church, Charlottesville, Lynchburg, Abington, Prince William, Loudoun, Leesburg, Manassas, Danville, Bristol, Williamsburg, Hampton, Newport News, Winchester, Warrenton, Lexington, Baltimore, Rockville, Bethesda, Silver Spring, Prince George’s, Frederick, Annapolis, Ocean City, Columbia, Montgomery, the Eastern Shore, Salisbury, Cumberland, Easton, Petersburg, Herndon, Reston, Harrisonburg, Portsmouth, Suffolk, Chesapeake, Culpeper, Fauquier, Henrico, Sterling, Stafford, Hagerstown, and Gaithersburg. |