MF Global Hit for $544,265: FINRA Arbitrator Finds Brokerage Firm’s Conduct Was “Serious Wrongdoing” That “Violated Industry Standards” and Its Own “Supervisory and Compliance Manual”

MF Global, Inc. v. Sohan Dua (FINRA Arbitration No. 09-01371) MF Global, Inc. sued Sohan Dua, alleging that he was a sophisticated and experienced investor who had failed to repay a margin loan that MF Global made to him against his portfolio. After the Law Offices of Montgomery G. Griffin was retained to represent Dr. […]

Expungement Obtained of Two 7+ Year Old Customer Complaints from Former Broker’s Record

In 2019, the Law Offices of Montgomery G. Griffin (“LOMGG”) successfully obtained expungement of two dated customer complaints from the FINRA CRD/BrokerCheck Record of a former registered representative (“Client”) who was in the process of relaunching her career as a Certified Financial Planner. Both complaints were placed on the Client’s record as a result of […]

Wrongfully Terminated Officer of Brokerage Firm Awarded $425,863 (Including Her Attorneys’ Fees and Costs) and Expungement of Form U-5 Language

Newport Coast Securities, Inc. v. Deborah Scott (FINRA Arbitration No. 11-03419) After terminating its Chief Compliance Officer (Deborah Scott), Orange County-based brokerage Newport Coast Securities (“NCS”) brought a FINRA arbitration against her, after which she retained the Law Offices of Montgomery G. Griffin. Following the firm’s analysis of the facts and law, the firm filed […]

Ameriprise Advisor Awarded Full Interest in Book of Business Purchased from Former Broker Following Dispute

Ryan P. Romines v. Thomas Gavigan (former Ameriprise broker) (FINRA Arbitration No. 11-00633) Following a lengthy dispute that was eventually decided by a FINRA arbitration Panel in San Francisco after four days of hearings stemming from the purchase of a sizeable book of business at Ameriprise from a departing advisor, the Law Offices of Montgomery […]

$732,000 Awarded by Arbitrators to Group of Retirees

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 […]