Structured Product Fraud Attorneys

Stifel, Nicolaus & Co. Ordered To Pay Investors $2.35M Over Structured Note Losses

This Latest FINRA Arbitration Award Again Involved Broker Chuck Roberts

Once again, a Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Stifel, Nicolaus, & Co. to pay investors who sustained structured product losses—callable structured notes, in particular— while working with financial advisor Chuck Roberts. This time the award is for $2.35M. The award itself is for almost $1.9M while the remainder is for legal fees. In his investor lawsuit, the claimant alleged negligence, negligent supervision, fraud, and more.

It was just last month that Stifel Nicolaus was ordered in another FINRA arbitration case to pay former customers of Roberts $14M in damages, including $9M in punitive damages.  A 34-year industry veteran, he is head of the broker-dealer’s CR Wealth Management Group in Miami and New York. Chuck Roberts’ CRD notes other investor claims involving him in which his former customers are collectively seeking many millions of dollars and alleging breach of fiduciary duty, negligence, breach of contract, and more. Roberts remains a Stifel financial advisor.

Representing Structured Product Investors Against Broker-Dealers

Shepherd Smith Edwards and Kantas Structured Product Fraud Attorneys (investorlawyers.com) represent investors against brokerage firms whose registered representatives contributed to causing their portfolio losses as a result of some type of financial advisor fraud or negligence. Structured products, including structured notes, are complex investments. You want to work with skilled securities attorneys who understand what they involve and how broker misconduct can contribute to causing structured product losses.

Underwritten by Wall Street banks, structured notes can be highly volatile and risky. Some may provide principal protection. Others do not. Depending on how any market volatility might impact this bond-derivative hybrid, and the terms of the note, an investor may even be at risk of losing their entire principal.  Other risks involving structured notes may include the probability of default, little-to-no liquidity, non-transparency, unsecured debt, and more.

There are different kinds of structured notes and some may even be a suitable recommendation for certain retail investors. However, it is important that a broker conduct the proper due diligence to ensure it is an appropriate recommendation for each customer before marketing and selling any kind of structured product to them.

Meanwhile, broker-dealers are supposed to properly supervise customers’ accounts to ensure that their financial advisors are not engaging in any type of fraudulent and negative activities that could cause financial harm. A failure to supervise that enables misconduct or carelessness could lead to serious losses and may be grounds for an investment loss recovery claim.

Why Work With Our Knowledgeable Structured Product Fraud Attorneys?

If you suffered structured note losses while working with Stifel broker Chuck Roberts or any other financial advisor, Shepherd Smith Edwards and Kantas Structured Product Fraud Attorneys want to hear from you. We have represented thousands of investors over the years and collectively helped the majority of them to secure full or partial financial recovery in arbitration, mediation, or litigation. We genuinely care about our clients and want to help make them financially whole again.

Many of us are former brokers who left that industry because we saw a lot of bad behaviors that were hurting investors. It is why we do what we do now, which is to fight for investors like you.

When you work with us, you are retaining our entire team of savvy structured note attorneys, legal assistants, consultants, and others to fight for you.

Contact Our Structured Product Fraud Attorneys:

Call (800) 259-9010 or fill out this form.