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Schwab loses lawsuit to halt FINRA action


A federal court judge threw out a lawsuit by Charles Schwab Corp that had sought to stop its regulator from disciplining the brokerage for trying to take away customers’ rights to sue it in class actions. Magistrate Judge Elizabeth Laporte of the U.S. District Court for the Northern District of California late on Friday granted […]

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Wall Street’s Legal Magic Ends an American Right


American business entered its Teflon era on a spring day 25 years ago. Lawyer Madelaine Eppenstein had taken the morning off from work for a parent-teacher event at her 5-year-old’s elementary school on June 8, 1987, when she was summoned to the principal’s office for an urgent call. Her husband and law partner, Theodore Eppenstein, […]

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A Jury of Peers for Disputes With Your Broker?


The scenario is not unlike those Olympic lowlights of yore: A Soviet gymnast flubs the floor exercise; a moment later, the Soviet judge scores the routine a perfect 10. Such has been the experience for many investors as they’ve sought compensation from their brokerage firms for everything from alleged misrepresentation to supposed breaches of fiduciary […]

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FINRA Arbitration Panel Hits Lincoln Financial With $2M Defamation Penalty

Financial Planning

In a rare move, a FINRA arbitration panel sided with a financial advisor who claimed his former firm, Lincoln Financial Advisors, defamed him after a firing, and ordered the firm to pay $2 million in damages. Lincoln Financial Advisors had abruptly terminated Jeffrey Concepcion in August 2008, according to the arbitration filing, and then withheld […]

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Investor Advocacy Clinic Finds Success In First Year Cases

Pepperdine University School of Law

Members of Pepperdine University School of Law’s Investor Advocacy Clinic, a branch of the Straus Institute for Dispute Resolution, found success in their first two cases, while the results of a third case are pending. The Pepperdine Law Investor Advocacy Clinic was established in the fall of 2010 through a $250,000 grant from the Financial Industry […]

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