SSEK FINRA Arbitration Attorneys

FINRA Arbitration Panel Orders Stifel Financial To Pay $132.5M to Claimants Over Structured Note Losses

 This Is The Latest Investment Award Involving Customers of Star Stifel Broker Chuck Roberts 

In what is being called the largest retail investor arbitration award, a Financial Industry Regulatory Authority (FINRA) arbitration panel is ordering Stifel Financial Corp. to pay a family of investors $132.5M in damages and legal fees over losses they sustained in structured notes that were recommended and sold to them by star Stifel broker Chuck Roberts.  The award includes $26.5 in compensatory damages, $79.5M in punitive damages, and $26.5M for legal fees. This is much higher than the $5M sought by the claimants.

The investors sustained losses in auto-callable contingent coupon notes that had their value tied to stocks that included Dynatrace, DocuSign, Twilio, and Palantir Technologies, as well as the SPDR S & P Biotech ETF. The claimants accused Roberts of overconcentrating their money in these too-risky investments.

The FINRA panel found that Stifel knew of the wrongfulness of the “egregious” conduct that occurred and of the “high probability” that damage or injury to the claimants could result. Misrepresentations and omissions, placing the broker-dealer’s financial interests over that of the claimants, allowing/encouraging leverage despite not having reasonable grounds for believing that the investors could meet accompanying commitments, breach of fiduciary duty, supervisory failures, and other misconduct purportedly occurred.

Are You A Customer of Stifel Broker Chuck Roberts Who Sustained Structured Product Losses?

This is not the first FINRA arbitration award Stifel has been held liable for on behalf of former customers of Chuck Roberts. In November 2024, investors were awarded $2.35M for their structured note losses. In October 2024, other investors were awarded $14.2M, including $9M  in punitive damages.

Chuck Roberts’ CRD shows more than two dozen customer disputes, many of which remain pending. A lot of the investment loss recovery claims are seeking up to seven figures in damages for collective tens of millions in dollars. Investors who have sued include retail investors, sophisticated investors, and institutional investors, such as Bravura Insurance Company, Noble Insurance Company, and The Harbor Group of New York.

Meanwhile, Roberts remains a registered representative with Stifel. He runs the broker-dealer’s CR Wealth Management Group in Miami, FL, and New York, NY.

SSEK FINRA Arbitration Attorneys (investorlawyers.com) are continuing to investigate structured product losses involving Chuck Roberts.  If you would like us to help determine whether you have grounds for a claim, we can help you explore your legal options.

You want to work with skilled structured product loss lawyers like us who understand the complex nature of these types of claims and can maximize your chances for a full recovery.

Call our SSEK FINRA Arbitration Attorneys at (800) 259-9010 or fill out this contact form.