Erez Law Receives $3.86 Million Award for FINRA Dispute Resolution Services

Erez Law recently received a significant award on behalf of a client whose financial advisor recommended an inappropriate product that caused financial losses. After arbitration, the client received substantial compensation thanks to the zealous client advocacy demonstrated by Erez Law’s investment fraud attorneys.

Many people who have legal issues related to their investments search for “best stockbroker attorney near me.” The best investment fraud lawyers have extensive experience with the Financial Industry Regulatory Authority (FINRA), which protects investors and safeguards market integrity. FINRA provides a forum for arbitration according to rules approved by the Securities Exchange Commission (SEC), though it does not participate in deciding the award. The awards are final and binding.

Here are the details related to the FINRA dispute: 

Summary of the Case

Erez Law represented a Houston couple, John and Elise Oren. John Oren owns two logistics companies in Houston. The Orens invested in the Yield Enhancement Strategy upon the recommendation of UBS Wealth Management, which they now believe is a highly speculative managed account options strategy. Their statement of claim alleged the following causes of action:

  • Breach of fiduciary duty
  • Negligence
  • Negligent supervision
  • Fraud
  • Breach of contract
  • Violation of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934
  • Violation of the Texas Securities Act

The Orens are among 1,400 people who invested $5.6 billion in the Yield Enhancement Strategy and who have collectively experienced over $1 billion in losses so far due to market volatility in 2018 and 2020. The strategy was initially billed as market neutral and has since been closed to new investors.

Award Summary 

The FINRA dispute was heard by an all-public panel of independent arbitrators. The FINRA resolution attorneys from Erez Law successfully established the Orens’ case during multiple evidentiary hearings. The panel awarded more than $2.896 million in compensatory damages to the couple, which compensates them for their initial investment, the fees they paid to UBS on the Yield Enhancement Strategy account, and the returns they could have earned had they not invested in the fund. They were also awarded attorneys’ fees, and most of the arbitration fees were assessed against UBS.

Contact the FINRA Lawyers from Erez Law for Help with Your Investment Fraud Case

If you are an investor who has suffered financial losses due to the fraudulent acts of a wealth management firm, the FINRA investment fraud attorneys from Erez Law are here to help. Our firm is often among the results of searches for “best FINRA lawyers” as we have recovered more than $200 million for clients around the world. We are currently representing more than 20 other clients in cases involving Yield Enhancement Strategies against UBS. Contact us today for a free case consultation to discuss your claim.


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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.