Law Office of Gregory Tendrich, P.A. Announces Significant FINRA Punitive Damage Arbitration Award Against Stock Brokerage Firm Brewer Financial Services, LLP
BOCA RATON, Fla., Jan. 19, 2011 (GLOBE NEWSWIRE) — Gregory Tendrich, Esq. of the securities law firm of Gregory Tendrich, P.A. announces today a recent significant FINRA arbitration award against Brewer Financial Services, LLP. On January 7, 2011, a FINRA arbitration panel awarded Mr. Tendrich’s client nearly $200,000 representing the recovery of 100% of his claimed losses and included interest, costs, attorney’s fees and $75,000 in punitive damages, based upon what the FINRA Arbitrator found to be the “intentional misconduct” of the Brewer Financial Services, LLP broker who acted in a “wanton manner and with a willful disregard” of the client’s interest. The FINRA Arbitrator additionally found that Brewer Financial Services, LLP committed “gross negligence” by not “properly supervising” its broker in the handling of the client’s account and awarded punitive damages. The losses incurred by Mr. Tendrich’s client, a retired state health care professional with limited prior investment experience, represented a loss of nearly his entire life savings and resulted in financial devastation to him.
The case highlights the ongoing abuse in South Florida and around the country of elderly and retired stock market investors with little or no prior investment experience who place their life savings with stock brokers and financial advisors who disregard a client’s investment objectives and goals and the brokerage firms that fail to supervise their brokers and advisors.
Investors who may be victims of similar conduct or who have incurred stock market losses in stocks, bonds, mutual funds, options, variable annuities, hedge funds and other types of investments, are urged to contact Mr. Tendrich to learn more about their rights.
The Law Office of Gregory Tendrich, P.A. is located in Boca Raton, Florida. Mr. Tendrich, a former in-house attorney for national and regional brokerage firms, is a FINRA arbitrator and State of Florida County Court mediator, and represents investors throughout the United States with claims for the recovery of stock market losses from stockbroker misconduct, negligence, fraud, misrepresentation, churning, and unsuitable recommendations.
Gregory Tendrich, Esq.
Gregory Tendrich, P.A.