Stifel Nicolaus & Co., Inc/Stifel Financial Corp.
Stifel Nicolaus Ordered to Pay Customers $151,000
A FINRA arbitration panel ordered Stifel Nicolaus to pay two investors $151,000 to compensate them for damages that they suffered as a result of Stifel’s misconduct. The investors accused Stifel of fraud, breach of fiduciary duty, negligence, and failure to supervise in relation to recommendations and sales of securities in American l-tome Mortgage Investment, Capstead Mortgage, Luminent Mortgage Capital, Resource Capital, and Hanover Capital Mortgage real
estate investment trusts.
Stifel Nicolaus Ordered to Pay Customer $220,000
A FINRA arbitration panel ordered Stifel Nicolaus to pay an investor $220,000 to compensate him for damages that he suffered as a result of Stifel’s misconduct. The investors accused Stifel of fraud, breach of fiduciary duty, negligence, negligent supervision, and violations of state investor protection laws. The investors claimed that Stifel created an unsuitable retirement portfolio by investing his money too aggressively.
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