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Stock Broker Held Accountable for Sister’s Investment Losses

Feb 16, 2010

Investors Awarded Full Recovery

FORT LAUDERDALE, Fla., Feb. 16 — A former school teacher and her husband, who were victimized by her stockbroker brother, have been awarded full recovery of all losses plus interest, attorney fees, forum fees and costs by a FINRA arbitration panel.

The arbitration Award follows a claim filed by the law firm of securities fraud attorney Mark A. Tepper.

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  • Investors Awarded Full Recovery
  • FORT LAUDERDALE, Fla., Feb. 16 — A former school teacher and her husband, who were victimized by her stockbroker brother, have been awarded full recovery of all losses plus interest, attorney fees, forum fees and costs by a FINRA arbitration panel.
  • “Brokerage firms are the last line of defense against stock broker misconduct and when that protection fails, investors can be the victimized. We’re very pleased with the finding by FINRA’s arbitration panel in favor of our clients,” Tepper said.
    • Archived Securities Fraud News

The couple suffered a nearly 80 percent investment loss, during a 3-4 month period, while their portfolio was under management of the claimant’s brother, broker Kenneth Popek and Tampa based brokerage firm Calton & Associates, Inc.

The panel also awarded punitive damages against the brokerage firm. “Calton’s failure to detect Respondent Popek’s wrongful conduct and failure to supervise the investments in Claimants’ accounts rose to the level of gross negligence pursuant to Florida Statute 768.72,” the arbitration panel noted.

“Brokerage firms are the last line of defense against stock broker misconduct and when that protection fails, investors can be the victimized. We’re very pleased with the finding by FINRA’s arbitration panel in favor of our clients,” Tepper said.

The Panel also denied Popek’s request for expungement of the matter from his records.

“Investors who believe they’ve been defrauded should investigate their legal rights to determine the merits of potential claims,” Tepper added.

FINRA arbitrators last year upheld claims filed by the Mark Tepper law firm against a number of large financial services companies, recovering investor losses from Merrill Lynch for high risk investments in Fannie Mae Preferred Stock, and against AmTrust.

About Mark A. Tepper, P.A. (www.MarkTepper.com)

A former Chief Trial Counsel at the Bureau of Investor Protection and Securities, Attorney Mark Tepper has earned the reputation of “Investor Advocate” while practicing law for over 30 years and representing the small investor. A member of the Florida, New York and California Bars, Mr. Tepper is AV®-rated, the highest rating of lawyers in the Martindale-Hubbell Law Directory. As a member of the Speaker’s Bureau of the Florida Bar, he addresses professional associations, local clubs and financial organizations in a continuing effort to educate the public on securities fraud.
MEDIA CONTACT:
Mark Hopkinson, NewsMark Public Relations
561-852-5767 mhopkinson@newsmarkpr.com

[archived law firm press release about Investors Awarded Full Recovery]

Archived Securities Fraud News

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    Ft. Lauderdale, FL. – A stockbroker who was held accountable by a FINRA Arbitration Panel…

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Securities fraud, also known as stock fraud and investment fraud, is a practice in violation of the securities laws that induces investors to make purchase or sale decisions on the basis of untrue or misleading information, which can result in losses. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This website may contain attorney advertising and is a form of law firm advertising. Prior results do not guarantee a similar outcome. Each case is different and is judged on its own merits.

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Investors can also obtain more information about, and the disciplinary record of, any FINRA-registered Broker or Brokerage firm, using FINRA's Broker Check.
Broker Check is a free service for investors and can be found at www.finra.org/brokercheck.

A stockbroker fraud securities lawyer can help you take action in seeking recovery of your investment losses. The Mark A. Tepper securities law firm represents the interests of investors who have suffered stock losses as a result of fraudulent practices or stock broker fraud. Free consultation on stock fraud from Fort Lauderdale, Florida Securities Lawyer. located in Ft. Lauderdale, and serving investors in Florida including Aventura, Boca Raton, Delray Beach, Fort Lauderdale, Hallandale, Hollywood, Jacksonville, Key Biscayne, Miami, Naples, Orlando, Palm Beach, Parkland, Pembroke Pines, Pompano Beach, Tampa and Vero Beach.

LEGAL TIPS FOR INVESTORS FROM THE MARK A. TEPPER LAW FIRM

• If it sounds too good to be true, it probably is.
• Don’t sign a new account agreement unless you understand it.
• Hang up on cold callers, especially those calling with “the opportunity of a lifetime.”
• Ignore high pressure sales tactics such as “if you don’t act now.”
• Save all promotional materials, in the event of a dispute over how the investment was described.
• Get it in writing. Don’t rely on verbal representations which may be convenient for the broker to forget during a dispute.
• Do not blame yourself. Brokers have a duty to recommend only suitable investments.
• Generally, the higher the investment return, the greater the risk.

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