Written by The White Law Group• November 14, 2023• 3:30 pm• Securities Fraud Articles

Stifel, Nicolaus & Co. Structured Notes Lawsuit

FINRA Claim filed against Stifel, Nicolaus & Co. Alleging Unsuitable Structured Notes

The White Law Group announces the filing of a FINRA Arbitration claim submitted on behalf of a retired Florida couple, alleging violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.

The claim alleges that Stifel, Nicolaus & Co. unsuitably invested its clients in a variety of complex, high-risk structured notes. The FINRA claim seeks damages in an amount between $100,000 and $500,000.

It is further alleged that the Stifel broker that was involved with the accounts at issue is Chuck Roberts. According to his FINRA Broker Report, Roberts has had at least 16 customer complaints and 2 regulatory actions.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.

According to D. Daxton White, managing partner of The White Law Group, “It is possible that many more investors have suffered devastating losses due to the broker-dealers’ failure to supervise and don’t realize they have recovery options.”

Brokerage firms are required to supervise their brokers to ensure that they are complying with FINRA rules. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.

FINRA Claims to Recover Investment Losses

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. ?It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.