W.L. “Cotton” Gray, Sophie Ratkovich, et al. v. Merchant Banking Services, Inc., et al. (NASD Case No. 98-03752)
A group of elderly investors represented by Montgomery Griffin before an NASD arbitration Panel alleged securities fraud violations, the recommendation of unsuitable securities, and a failure to diversify their portfolios by two financial advisors and the brokerage firm where they worked. Following an arbitration hearing before the three-member Panel in Los Angeles, Montgomery Griffin’s group of clients was awarded a total of $732,000.