Amount Lost: $237,000
Commissions Charged: $168,000
Cold Spring has been retained by a retired orthopedic surgeon from Lincolnwood, Illinois who is seeking $237,000 in damages against a broker in Syosset, New York for churning 3 of his accounts and putting him in unsuitable positions. In the year and 9 months he was invested in the firm, he paid $166,000 in commissions. In addition to having an excessively high cost maintenance for his accounts, the client was marked up and marked down with no knowledge of what those terms event meant.