Case Results

Erez Law’s mission is to recover investment losses from brokerage firms. Erez Law has recovered investment losses of over $175 million from brokerage firms and has successfully represented over 1000 clients. We have the experience, strategies and resources to maximize recoveries for defrauded investors through trial or negotiation. Erez Law has tried over 40 cases to verdict and consistently achieved exceptional results for its clients and is regarded as a preeminent trial firm.

$430,000

CASE NO. 08-01333

Phillip Richardson v. Morgan Keegan & Co.(FINRA)

The Firm obtained a $430,000 verdict against Morgan Keegan, in a case alleging securities fraud over the sale of Morgan Keegan open-end mutual funds, known as RMK Select High Income (MKHIX), RMK Select Intermediate Fund. The verdict represented 126% of the net out of pocket losses.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$314,000

CASE NO. 10-03532

Russell Stephen Tarrant v. Kovack Securities, Inc.

The Firm obtained total damages of $314,317 for an investor who lost $100,000 when the broker engaged in “selling away”. Selling away occurs when a broker sells an unapproved investment to his customer. The arbitrators awarded the extraordinary relied of punitive damages due to the “egregious behavior on the part of the broker and the apparent lack of any system of supervision” by Kovack Securities.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$290,999

CASE NO. 11-04247

Scott Stephens, as Trustee of the Wilbert Joseph Stephens, Jr. Testamentary Trust #1 et al. v. Morgan Keegan & Company, Inc.

Erez Law recovered $290,999 for investors who sustained losses in the closed-end RMK bond funds managed by James Kelsoe. The award is significant in that it represents a recovery of 100% of the investors’ losses. The investors filed claims based upon the unsuitability of the investments as well as misrepresentations and omissions in connection with the RMK Funds. The brokerage firm denied liability and contended that the investors wanted high risk investments, that the risks were disclosed and that the investors should have sold immediately when the funds declined in value. The arbitrators unanimously rejected the brokerage firms’ arguments and found for the investors.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$286,000

CASE NO. 08-00574

Humphries v. Morgan Keegan & Co.

Humphries v. Morgan Keegan & Co. (FINRA). The Firm obtained a $286,000 verdict against Morgan Keegan, in a case alleging securities fraud over the sale of a Morgan Keegan open-end mutual fund, known as the RMK Select Intermediate Fund. The verdict including a finding that Morgan Keegan violated the Mississippi Securities Act and represented a recovery of all net out-of-pocket losses, interest, and attorneys fees and costs.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$250,000

SETTLEMENT

Recovered $250,000 for an investor against a brokerage firm

Recovered $250,000 for an investor against a brokerage firm related to losses in real estate investment trusts (“REITs), and other real estate related private investment funds. Erez Law brought claims based upon the unsuitability of the investments, misrepresentations and failure to make adequate disclosures, amongst other things. The arbitration case was filed with FINRA Dispute Resolution and was settled very close to the start of the trial date.

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$250,000

CASE NO. 10-02971

John Murphy v. Citigroup Global Markets Case

Erez Law recovered $250,000 for an investor who purchased $250,000 of Fannie Mae preferred Series T in the public offering in May 2008. A Citigroup/Smith Barney broker sold the preferred shares to John Murphy, a retiree living in South Florida and four months later the US Government put the company in conservatorship and the investment was rendered virtually worthless. Mr. Murphy’s out of pocket losses were $230,000. The Panel awarded in excess of out of pocket which is a rarity. The Panel also made a specific finding that the broker violated the fiduciary duties owed to Mr. Murphy.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$195,000

CASES NO. 10-02526

Fornell v. Morgan Keegan Firm

Fornell v. Morgan Keegan Firm obtained an Award against Morgan Keegan for $195,000 plus costs of $20,000 and attorney’s fees for an investor who had out of pocket losses of $105,000 in the RMK funds. The Award of compensatory damages of $195,000 was for “well managed damages” which are damages intended to put the investor in the position he would be in if invested in appropriate investments. The arbitration panel also made a finding that the broker was a co-trustee of the pension plan and as such awarded attorney’s fees allowed under the ERISA statute.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$190,000

CASE NO. 00-02317

Net losses were just $16,000

$190,000 verdict in a fraud case where the net losses were just $16,000.

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$143,000

CASE NO. 12-01384

Mary Robin Tipton v. Merrimac Corporate Securities, Inc.

Erez Law represented Mary Robin Tipton, an Orlando area investor, in a FINRA arbitration proceeding against Merrimac Corporate Securities, Inc. (“Merrimac”) in which the FINRA arbitration panel ordered Merrimac to pay more than $143,000 in damages, including $60,000 in punitive damages, in connection with an illicit selling away scheme orchestrated by two former Merrimac employees. Selling away is a prohibited practice whereby a broker sells an investment that was not vetted or approved by the brokerage firm

View Award

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.
$143,000

SETTLEMENT

Recovered $143,000 from a major brokerage firm

Recovered $143,000 from a major brokerage firm for a U.S. based investor that invested in Puerto Rico bonds. Erez Law brought claims based upon the unsuitability of the investments, misrepresentations and failure to make adequate disclosures, amongst other things. The case was filed with FINRA Dispute Resolution and was settled very close to the start of the trial date.

Disclaimer: The results obtained for this or any client does not indicate that similar results can be obtained for other clients.