Month: March 2021 Articles

In California, it has long been the case that what a brokerage firm puts on your U5 is protected by “absolute privilege,” making it hard for you to get your record expunged out there. But California’s Fourth District Court of Appeals recently decided that a firm’s...

When I started out in this business, I represented investors against brokers and the investor was always right.  Then I got wise. Especially as the market did well in the early 2010s, there were a lot of shifty investors trying to get a Mulligan if their bad ideas...

In Barbara Golds v. LPL et al., I defended LPL against a market maven who wanted the FINRA panel to believe she was taken by one of its brokers. The broker was taken by her in a classic selling away case. Unsatisfied with her returns at LPL in a time when the market...

Virtually every case I defended at Oppenheimer involved some disgruntled investor trying to get a Mulligan and/or blame the broker for their own folly. Case in point, the Estes matter. Dick Estes, obsessed with a biotech stock called Cardiome, went nuts with it and...