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Unsuitable Investments in Managed Money

Represented a large international broker-dealer firm in an arbitration before the NASD involving allegations of unsuitable investments in managed money, aggressive mutual funds, individual stocks and hedge funds. Through the extensive use of discovery, including several third party subpoenas, we managed to gather evidence establishing that the investor was sophisticated, had pursued similar strategies with other broker-dealer firms, and had made all of his own investment decisions. As a result, although the investor claimed losses of between $1 million and $3 million, the case was ultimately settled prior to the hearing for only $37,500.
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