$311,252 Awarded by FINRA to Small Business Owner, Including $100,000 in Punitive Damages

Dee Ann Phillips v. Lawrence S. Jay (FINRA Case No. 05-01391) The Law Offices of Montgomery G. Griffin’s client, a single woman who owned and ran a small business in Nevada, was awarded $311,252 for her broker’s construction of an unsuitable portfolio, his failure to diversify, and his fraudulent representations to her during the period […]

Citigroup Ordered to Pay Retiree $130,000 (plus forum fees of $8,325 assessed against Citigroup)

Joan Jeffrey v. Citigroup Global Markets (formerly known as Salomon Smith Barney) (FINRA Arbitration No. 06-01388) The Law Offices of Montgomery G. Griffin’s client, a retired woman from the Sacramento area, brought an arbitration against Citigroup Global Markets, Inc. (“CGMI” or “Citigroup”) alleging that Citigroup’s financial advisor had defrauded her, failed to construct a suitable […]

FINRA Finds Form U-5 Language “Defamatory in Nature,” Orders Expungement and Replacement Language by Two FINRA Firms, Including Fidelity Brokerage Services

Patrick Van Hien v. PCBB Capital Markets, LLC (FINRA Arbitration No. 13-00429) Following an arbitration hearing, a Los Angeles FINRA Panel issued an Award recommending the expungement of language on the Law Offices of Montgomery G. Griffin’s client’s Form U-5 at two broker-dealers, Fidelity Brokerage Services and PCBB Capital Markets. The Award specified that the […]

Promissory Note Case: UBS Awarded Less Than 50% of Requested Relief

UBS Financial Services, Inc. v. James S. Cave (FINRA Arbitration No. 10-05701) A San Francisco FINRA Panel reduced the amount sought by UBS against the Law Offices of Montgomery G. Griffin’s client, a former broker, by over 50% following a three-day FINRA arbitration hearing. The Panel also stated in its Award that the firm’s client […]

$732,000 Awarded to Retirees by Los Angeles Arbitration Panel for Various Securities Violations

W.L. “Cotton” Gray, Sophie Ratkovich, et al. v. Merchant Banking Services, Inc., et al. (NASD Case No. 98-03752). A group of investors represented by Montgomery Griffin consisting of retired senior citizens (including a widow from Walnut Creek in the Bay Area, a former law enforcement officer in Los Alamitos, a couple in Santa Cruz, and […]