Recent Cases | Page 12 | Cold Spring Advisory Group

Recent Cases

Client: Attorney

Amount Lost: $60,550

Commissions Charged: $31,000

Cold Spring has been retained by 78-year-old attorney living in Redwood City, CA who is seeking damages of $60,550 from a New York City broker-dealer for excessive trading (churning for commissions) and failure to abide by FINRA suitability rules. Cold Spring's analysis found this client was charged over $31,000 in commissions in a 13-month timeframe.

Client: Business Consultant

Amount Lost: $356,000

Broker Abuse: Suitability

Cold Spring has been retained by a 51-year-old business consultant from the United Kingdom seeking $356,000 in damages against 2 Long Island broker-dealers that each made unsuitable investment recommendations for 3 separate accounts. These brokers failed to do their due diligence and invested the client in highly speculative positions that were not appropriate for the investor's profile. The brokers also failed to sell the positions when they continued to perform poorly.