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NASD Panel Orders Duke & Co. To Pay Former Broker $120,000

Dow Jones Newswires

Duke & Co., the small New York brokerage firm that is closing its retail operations amid investigations by federal and state regulators, was recently ordered to pay a total of $120,000 to a former broker who claimed the firm fired him in 1996, withheld commissions, and then tried to blackball him with his next employer. […]

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Investor Wins $10 Million in Penny-Stock Broker Case

Los Angeles Times

Securities: The huge punitive damages are among the highest achieved in arbitration of a securities complaint. NEW YORK-In one of the largest securities arbitration judgments ever a Pasadena physician won a $10-million punitive damage award against four principals of the defunct penny-stock brokerage Stratton-Oakmont Inc. Philip M. Aidikoff attorney for Dr. F. Clark Gardner, said […]

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Former Stratton Execs Fined $10M


Four former officers of Stratton Oakmont Inc., a Lake Success-based securities company that is in liquidation proceedings, have been fined $10 million in punitive damages for allegedly defrauding an investor. The award by a National Association of Securities Dealers arbitration panel appears to be the largest such award to a customer, according to Richard Ryder, […]

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Record Award may alter arbitration cases

USA Today

NEW YORK – An arbitration panel’s record $10 million punitive damage award this week to a California radiologist, who says he was misled by his stockbroker, could force Wall street to rethink how it resolves investor disputes. F. Clark Gardner says he lost $209,000 because of unauthorized trades and other deceptions orchestrated by his broker […]

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Panel Awards Record Amount In Stratton Case

Wall Street Journal

An arbitration panel awarded a California doctor a record $10 million in punitive damages from four former officers of the defunct brokerage firm Stratton Oakmont. A National Association of Securities Dealers panel in Los Angeles awarded the punitive damages to California doctor F. Clark Gardner on top of 3154.583 in compensatory damages and 324,375 in […]

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