Wall Street Journal
NEW YORK — A customer who says E*Trade Securities Inc. mishandled his stock-trading order, refused to respond to his complaint, then sent a collection agent after him has been awarded more than $60,000 by an arbitration panel. The panel, convened by the regulatory arm of the National Association of Securities Dealers, has ordered E*Trade, the […]
PR Newswire
BEVERLY HILLS, Calif., Aug. 7 /PRNewswire/ — The following is being issued by Aidikoff & Uhl: Ali Lee Khadivi, an on-line investor was awarded $61,203 plus interest and costs by an National Association of Securities Dealers (NASD) arbitration panel. The award against E*Trade Securities, Inc. (Nasdaq: EGRP – news) came after more than one year […]
TheStreet.com
Austin McCormack admits it probably wasn’t the best idea to invest $10,000 of his retirement savings in stocks simply because they were recommended by a cold-calling broker from Hanover Sterling, a Manhattan brokerage specializing in penny stocks. But when the brokerage collapsed in 1995, he thought that the quasigovernmental, nonprofit agency that insures brokerage accounts, […]
Reuters
E-Trade Group Inc. (NasdaqNM:EGRP – news), the No. 2 Internet broker, has been ordered to pay a customer more than $61,000 plus interest and costs as a result of a mishandled order, lawyers involved said Monday. The case, which was decided by a National Association of Securities Dealers (NASD) arbitration panel in San Francisco, showed […]
Los Angeles Times
Lawyers representing individual investors in disputes against brokerages charged Thursday that the National Assn. of Securities Dealers has been “rigging” arbitration hearings to favor Wall Street firms–an allegation that the NASD instantly denounced. The group charged that NASD computers have been set so that the panels conducting arbitration hearings are stacked with people friendly to […]