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Judge Halts Securities America Class Action Settlement

In a potentially costly blow to the brokerage firm Securities America, a federal judge in Dallas ruled on Friday that hundreds of arbitration claims against the company should move forward rather than being stuffed into a catch-all class-action lawsuit. The case, which was heard by Judge Royal Furgeson, stems from litigation against Securities America, a […]

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Securities America Loses $1.2 million FINRA Arbitration

A FINRA arbitration panel ordered Securities America to pay an investor more than $1.2 million in damages related to losses in promissory notes issued by Medical Capital Holdings Inc., which entered receivership in 2009. The sum included $250,000 in punitive damages. The case, decided on Dec. 31, was the first among dozens of arbitration cases […]

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Securities America CEO Steps Down Amid Growing Arbitration Claims

Last week Securities America CEO Steve McWhorter announced his decision to retire after 22 years of service. His stated reason for leaving is that he wishes to spend time with his family, and he has stressed that there is no underlying reason for his departure. Despite this, some are questioning the timing of his announcement […]

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New Suit Alleges Securities America Sold Notes it Knew to be Questionable

In a recently filed lawsuit, Securities America Inc. is charged with continuing to sell offerings of a faulty private placement after an executive at the firm sounded the alarm bell concerning the problem investment last year. In addition to this allegation, the lawsuit further charges that Securities America sold millions of dollars’ worth of notes […]

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FINRA Arbitration Filed Against Securities America

Aidikoff, Uhl & Bakhtiari ( announces the filing of a FINRA arbitration claim against Securities America on behalf of investors in Medical Capital securities. The law firm has been contacted by investors and is preparing to file additional FINRA arbitration claims against broker dealers for losses incurred based on the recommendation to purchase Medical Capital […]

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