Blum Law Group obtains a FINRA arbitration award against CIBC World Markets Corp., Jeff Bank, and Arthur Lewis
February 13, 2008
Blum Law Group recently obtained a FINRA arbitration award of damages on behalf of a former Nortel Networks employee against his stockbroker/manager and CIBC. The case involved losses of substantially all of Claimant’s net worth. Claimant alleged Respondents failed to diversify, implement any hedge or recommend any protective device in order to protect Claimant’s savings. This was a wholly unsuitable and risky investment strategy for Claimant resulting in devastating losses. The panel found Respondents liable on the claims of breach of contract; failure to supervise; breach of fiduciary duty; negligence; and negligent hiring and retention.
Blum Law Group. represents investors worldwide in FINRA arbitrations in claims relating to securities industry misconduct. The FINRA award and other information about Blum & Silver can be found at stockattorneys.com. If you have any questions about a potential claim, please contact us for a free consultation.