Author Archives: Broker Buster
Loss Not Due To Market Conditions
Loss Recovery Center is currently representing a client from Boston whose stockbroker wanted to make up for the $165,000 in losses incurred as a result of the bad investment recommendations he had made over the previous 4 years. In 2008 … Continue reading
LCM VII LTD Notes sold by Banc of America Securities
Banc of America Securities created and/or purchased a significant number of Collateralized Loan Obligations (CLO’s) (securities backed by corporate loans). Banc of America Securities bundled them, and sold one of them as LCM VII LTD Notes. The LCMÂ VII Notes were … Continue reading
FINRA Arbitration Panel Awards $395,577
FINRA Case Number: 09-00405 On January 21, 2010 a FINRA Arbitration Panel determined that Stifel, Nicholaus & Company, Inc. was liable for compensable losses in this case of unsuitable investments and strategies, negligence, failure to supervise, and breach of fiduciary … Continue reading