Dow Jones Newswires
There is the 61-year-old financial analyst who works at the Bureau of Indian Affairs in Washington, D.C., and the small business owner from southern New Jersey. Then there is the soft-spoken, 55-year old California woman who is carefully saving her money, but not for retirement. She is making a midlife career change, moving from a […]
Wall Street Journal
A former broker at Duke & Co., which is under investigation by federal and state regulators, has accused the brokerage firm’s principals of many suspect practices, including the refusal to execute trades and ordering the use of sales scripts. In a sworn declaration given in connection with an arbitration claim, the broker, Howard M. Blumenau, […]
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. […]
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 […]
Newsday
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, […]