ADVERTISEMENT



Google       

Home -> Law Blog Directory -> Corporate & Securities Law Blogs -> FinancialCounsel

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Bookmark

Corporate & Securities Law

: FinancialCounsel

Elder Abuse And Reverse Mortgage Cited In Punitive Damages Award Against StockCross Financial Services

By James Eccleston

ADVERTISEMENTS

In a rarity, arbitrators last month cited elder abuse in tripling the damages a discount-securities firm must pay to a 95-year-old client.

A FINRA panel awarded the investor $1.6 million in a case involving StockCross Financial Services, Inc. of Beverly Hills, as well as two brokers, Thomas Cooper and Peter Boorn.  The investor claimed that the brokers recommended and solicited unsuitable and overly risky investments that were actively traded on margin.  Likewise, the claim alleged that the brokers encouraged and invited the investor to leverage the equity in his home with a reverse-mortgage transaction to utilize as investment capital.

Source:  InvestmentNews

Full post as published by FinancialCounsel on January 20, 2010 (boomark / email).

Bloggers, promote your law blog by nominating your blog for inclusion in USLaw.com's Law Blog Directory and RSS Reader. Benefits described.
Related Law Articles

Lawsuits and Settlements

Related Searches

























































































































US Law
#1 Online Legal Resource













Your Blog Subscriptions
Subscribe to blogs

10,000+ Law Job Listings
Lawyer . Police . Paralegal . Etc
Earn a law-related degree
Are you the author of this blog? Adding USLaw.com to your Blogroll increases relevance. You qualify to display a USLaw Network badge.
Suggest changes to this blog's description or nominate another for inclusion. Register for updates.


Practice Area
Zip Code:

Contact a Lawyer Now!






0.0173 secs (new cache)