Greco & 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…
Securities Fraud Blog
Stock Loss and Attorney Fees Awarded for Private Placement “Selling Away” Case
Greco & Greco’s client was awarded her entire investment ($100,000) plus interest and 1/3 attorney’s fees by a Washington, D.C. FINRA arbitration panel. The award was entered jointly against the brokerage firm, despite its claims that it was unaware of its representative’s sale of the non-approved security, and its claim…
Investment Losses Recovered for Disabled Charlottesville Woman
An 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…
First FINRA Arbitration Award Against UBS of Puerto Rico Regarding Bond Funds
Greco & Greco is pleased to report the first FINRA Arbitration Award against UBS Financial Services of Puerto Rico relating to the crash of UBS closed-end bond funds in 2013 which were sold to Puerto Rico residents. W. Scott Greco represented the Claimant customer in the case of Bauza v.…
Recovery of losses incurred in Trust and IRA accounts of Washington, DC retiree as a result of unsuitable investments and stock trading
This case involved Trust and IRA accounts relied upon by a retiree to pay living expenses. The broker and firm were advised that the accounts were not to be invested in the stock market or other risky investments. Despite the conservative objectives for the accounts, the brokerage firm unsuitably invested…
Greco & Greco recovers $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…
Registered Rep Awarded Back Commissions Owed from Split Fee Agreement
Greco & 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 commissions which were not correctly…
Million Dollar Plus Awards
Million Dollar Plus Awards for Family sold unsuitable risky limited partnerships. Greco & Greco represented a Chicago, Illinois family against a Virginia based brokerage firm and received an award for $1.2 million in damages and $400,000 in attorneys fees. A second arbitration was then successfully prosecuted against the control persons…
Greco & Greco Obtains $3.24 Million Arbitration Award
Greco & 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…
$2 Million FINRA Award for Greco & Greco Clients
A 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…