Ichter Thomas Client Obtains $213,725 Judgment in Financial Regulatory Authority (“FINRA”) Dispute Resolution, Inc. Arbitration

On December 7, 2011, William J. (Jeff) Brooks—represented by Ichter Thomas—obtained an award against Wells Fargo Advisors, LLC, the second-largest brokerage firm in the United States, and Mr. Brooks’ former financial advisor, in the amount of $213,725 following arbitration pursuant to FINRA rules.  FINRA is the largest independent regulator of all securities firms doing business in the United States, and operates a dispute resolution forum subject to unique procedural rules.

Mr. Brooks filed his Statement of Claim on November 17, 2010, asserting a number of claims relating to the excessive number of trades in his brokerage account in light of investment objectives (“churning”) and the use of margin to purchase various equities without authorization.  Just over one (1) year later, Mr. Brooks obtained a favorable award against his former brokerage firm and financial advisor, jointly and severally—including an order assessing all costs of the arbitration against the Respondents.  A copy of the FINRA decision is available here.

Ichter Thomas gives its clients personal service and attention and is prepared to leverage its experience in securities fraud matters—both in arbitration, as well as federal and state court—to diligently pursue recovery of investors’ losses.  For more information as to how Ichter Thomas can potentially help you recover your hard-won savings, call Cary Ichter or Dan Davis at (404) 869-7600.

Tagged as: dispute resolution, financial advisor, FINRA, securities, Wells Fargo, win against Wells Fargo