ChapmanAlbin represented a retired farmer and his wife from the Mid-West who were cold called by a Long Island, New York “bucket shop” broker.  The broker churned the couple’s accounts by unsuitably investing in speculative securities using margin.  The broker also took excessive risks, against the clients’ wishes, by shorting securities.  The broker’s unsuitable and excessive trading (churning) of the accounts generated more than $350,000 in commissions for the broker while causing significant losses to the customers’ accounts.  ChapmanAlbin attorneys filed FINRA arbitration claims on behalf of the customers and successfully negotiated a settlement of the claims.


Leave a Reply

Your email address will not be published. Required fields are marked *